New TDS Rates for FY 2020-21 w.e.f 14th May, 2020 | AY 2021-22 | Taxpundit
The Central Board of Income Tax announced a 25 per cent reduction in TDS (tax deducted at sources) and TCS (tax collected at source) from May 14 to March 31 with an aim to enhance liquidity in the hands of taxpayers.
This reduction in TDS will only be applicable for 23 levied payments. Similarly, for TCS, it will be applicable to four categorise rooms of the Income Tax Act.
However, there shall be no reduction in rates, where tax is required to be deducted or collected at higher rate due to non-furnishing of PAN/Aadhaar.
The rates at which TDS is applied may vary as per the nature of income which could be between 1% - 30%. The onus to collect TDS and deposit the same lies on the service provider or the seller.
In this video we have explained new details rates in detail.
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Sir ye jankari dene me hame achhalaga . Thanks
Nice & simple🙏thank u👍
Tds lnterest lncome par 01.04.20 se @7 .5/- kar sakte h kaya
Sir, 20 lac se upper withdrawal per jo 2% TDS katega....kya wo AEPS(withdrwan by biometric) ke madhyam se withdrawn karne par bhi tds deduct hoga...? Please answer
Sir Agar hum credit card se 10k ,10k kar k total 3lac rent payment k through apne account me transfer Kiya toh kya income tax dena padega ga
Sir last year mere father ko retirement par employer se lic pention and group scheme mein se 1/3rd amount receive hua commuted value ka jo ki exempt income hoti h u/s 10(10A), but employer ne usse Salary income report kar diya. Aur ab keh rahe hain ki hum kisi CA ki help se khud usse exempt dikha dein par essa karne par itr mis- match ho jayega. Pls guide me what to do. Abhi tak itr file nahi ki h.
Like to hear more explanation regarding tds for NRI Buying and selling property including ag-land.
What is the basic benefit of reduced TdS. In the end, we have to give full tax as per our income.
What is the maximum amount when tds will be applicable under the section 194A ?
Hi sir..... brokerage bill 31.3.21 ki h but abhi tak tds nhi pay kiya h or May 7. 21 ko payment krne wali hu mujhe interest calculate kine month tk krna hoga jayega
Sir,
Can claim section 54F and 54EC same year.
is this reduction also applicable on Lower - TDS certificate issued u/s 197 ? Please confirm .
Thank you sir
Sir, What will be the rate of TDS for contractor if payment is made more then 1.5 lakhs
Sir, TDS deposited for deductions made after14-May-2020 at old rates, can challan be revised.
Tds rate chart for fy 2021/22 ?
Sir bussines me sale 62 lakh hi to kese calculated hoga pls batao itr4 me
DEAR SIR, PLEASE TELL ME THAT, IS POSSIBLE TO CHANGE FROM INCOME TAX NEW TAX REGIME TO OLD TAX REGIME ANOTHER YEAR ?
Is the concession of 25% of TDS rate upto 31.3.21 also applicable to the 20% rate for non availability of PAN cases also?