TDS TCS Chart for AY 2022-23 (FY 2021-22)

 

A.Rates for tax deduction at source For Assessment year 2022-23

 

  1. In the case of a person other than a company and the said person is Resident in India:

 

Particulars TDS Rates (in %)
Section 192: Payment of Salary Normal Slab Rate Normal Slab Rate
Section 192A: Payment of accumulated balance of provident fund which is taxable in the hands of an employee. 10  
Section 193: Interest on securities    
a) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act; 10  
b) any debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder; 10  
c) any security of the Central or State Government;

[i.e. 8% Savings (Taxable) Bonds, 2003 and 7.75% Saving (Taxable) Bonds, 2018]

 10  
d) interest on any other security 10  
Section 194: Income by way of dividend 10  
Section 194A: Income by way of interest other than “Interest on securities” 10  
Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort 30  
Section 194BB: Income by way of winnings from horse races 30  
Section 194C: Payment to contractor/sub-contractor  
a) HUF/Individuals 1  
b) Others 2  
Section 194D: Insurance commission 5  
Section 194DA: Payment in respect of life insurance policy

w.e.f. 1/9/2019, the tax shall be deducted on the amount of income comprised in insurance pay-out

 5  
Section 194EE: Payment in respect of deposit under National Savings scheme 10  
Section 194F: Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India 20  
Section 194G: Commission, etc., on sale of lottery tickets 5  
Section 194H: Commission or brokerage 5  
Section 194-I: Rent  
a) Plant & Machinery 2  
b) Land or building or furniture or fitting 10  
Section 194-IA: Payment on transfer of certain immovable property other than agricultural land 1  
Section 194-IB: Payment of rent by individual or HUF not liable to tax audit 5  
Section 194-IC: Payment of monetary consideration under Joint Development Agreements 10  
Section 194J: Fees for professional or technical services:

i)  sum paid or payable towards fees for technical services

ii)  sum paid or payable towards royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films;

iii)  Any other sum

Note: With effect from June 1, 2017 the rate of TDS would be 2% in case of payee engaged in business of operation of call center.

 2

2

10

  
Section 194K: Income in respect of units payable to resident person. 10  
Section 194LA: Payment of compensation on acquisition of certain immovable property 10  
Section 194LBA(1): Business trust shall deduct tax while distributing, any interest received or receivable by it from a SPV or any income received from renting or leasing or letting out any real estate asset owned directly by it, to its unit holders. 10  
Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)] 10  
Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA) 25 in case of Individual or HUF
30 in case of other person		  
Section 194M: Payment of commission (not being insurance commission), brokerage, contractual fee, professional fee to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J.

Tax shall be deducted under Section 194M with effect from 1/09/2019 when aggregate of sum credited or paid during a financial year exceeds Rs. 50 lakh.

 5  
Section 194N: Cash withdrawal during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office:

i) in excess of Rs. 1 crore

ii) in excess of Rs. 20 lakhs*

* for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired. The deduction of tax under this situation shall be at the rate of:

a) 2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs.20 lakhs during the previous year; or

b) 5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year.

 2

2/5

  
Section 194-O: Payment or credit of amount by the e-commerce operator to e-commerce participant 1  
Section 194P: Deduction of tax by specified bank in case of senior citizen having age of 75 or more Tax on total income as per rate in force  
Section 194Q: Payment to resident for purchase of goods of the aggregate value exceeding Rs. 50 lakhs

Note: TDS is deductible on sum exceeding Rs. 50 lakhs

 0.1  
Any Other Income 10  

 

 

  1. In the case of a person other than a company and the said person is Non-Resident in India:

 

 

Particulars TDS Rates (in %)
Section 192: Payment of Salary Normal Slab Rate
Section 192A: Payment of accumulated balance of provident fund which is taxable in the hands of an employee. 10
Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort 30
Section 194BB: Income by way of winnings from horse races 30
Section 194E: Payment to non-resident sportsmen/sports association 20
Section 194EE: Payment in respect of deposits under National Savings Scheme 10
Section 194F:Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India 20
Section 194G: Commission, etc., on sale of lottery tickets 5
Section 194LB: Payment of interest on infrastructure debt fund 5
Sec. 194LBA(2): Payment of the nature referred to in Section 10(23FC)(a) 5
Section 194LBA(2): Payment of the nature referred to in Section 10(23FC)(b) 10
Section 194LBA(3): Payment of the nature referred to in section 10(23FCA) by business trust to unit holders 30
Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)]. 30
Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA) 30
Section 194LC: Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond) 5 or 4*

* In case where interest is payable in respect of Long-term Bond or Rupee Denominated Bond listed on recognised stock exchange located in IFSC
Section 194LD: Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor 5
Section 195: Payment of any other sum to a Non-resident  
a) Income in respect of investment made by a Non-resident Indian Citizen 20
b) Income by way of long-term capital gains referred to in Section 115E in case of a Non-resident Indian Citizen 10
c) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-Section (1) of Section 112 10
d) Income by way of long-term capital gains as referred to in Section 112A 10
e) Income by way of short-term capital gains referred to in Section 111A 15
f) Any other income by way of long-term capital gains [not being long-term capital gains referred to in clauses 10(33), 10(36) and 112A 20
g) Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC) 20
h) Income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of Section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of Section 115A of the Income-tax Act, to a person resident in India 10
i) Income by way of royalty [not being royalty of the nature referred to point h) above] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy 10
j) Income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy 10
k) Any other income 30
Section 196B: Income from units (including long-term capital gain on transfer of such units) to an offshore fund 10
Section 196C: Income from foreign currency bonds or GDR of an Indian company (including long-term capital gain on transfer of such bonds or GDR) 10
Section 196D: Income of foreign Institutional Investors from securities (not being dividend or capital gain arising from such securities)

Note: Tax shall be deducted at the rate provided under DTAA if same is lower than the existing TDS rate of 20%.

 20

 

 

 

 

  1. In the case of a person is a company and the said company is a Domestic Company:

 

Particulars TDS Rates (in %)
Section 193: Interest on securities  
a) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act; 10
b) any debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder; 10
c) any security of the Central or State Government;

[i.e. 8% Saving (Taxable) Bonds, 2003 and 7.75% Saving (Taxable) Bonds, 2018]

 10
d) interest on any other security 10
Section 194: Dividend 10
Section 194A: Income by way of interest other than “Interest on securities” 10
Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort 30
Section 194BB: Income by way of winnings from horse races 30
Section 194C: Payment to contractor/sub-contractor
a) HUF/Individuals 1
b) Others 2
Section 194D: Insurance commission 10
Section 194DA: Payment in respect of life insurance policy

w.e.f. 1/9/2019, the tax shall be deducted on the amount of income comprised in insurance pay-out

 5
Section 194EE: Payment in respect of deposit under National Savings scheme 10
Section 194F: Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India 20
Section 194G: Commission, etc., on sale of lottery tickets 5
Section 194H: Commission or brokerage 5
Section 194-I: Rent
a) Plant & Machinery 2
b) Land or building or furniture or fitting 10
Section 194-IA:Payment on transfer of certain immovable property other than agricultural land 1
Section 194-IC:Payment of monetary consideration under Joint Development Agreements 10
Section 194J: Fees for professional or technical services:

iv)   sum paid or payable towards fees for technical services

v)   sum paid or payable towards royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films;

vi)   Any other sum

Note: With effect from June 1, 2017 the rate of TDS would be 2% in case of payee engaged in business of operation of call center.

 2

2

10
Section 194K : Income in respect of units payable to resident person 10
Section 194LA: Payment of compensation on acquisition of certain immovable property 10
Section 194LBA(1): Business trust shall deduct tax while distributing, any interest received or receivable by it from a SPV or any income received from renting or leasing or letting out any real estate asset owned directly by it, to its unit holders. 10
Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)] . 10
Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA) 10
Section 194M: Payment of commission (not being insurance commission), brokerage, contractual fee, professional fee to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J.

Tax shall be deducted under Section 194M with effect from 1/09/2019 when aggregate of sum credited or paid during a financial year exceeds Rs. 50 lakh.

 5%
Section 194N: Cash withdrawal during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office:

iii)   in excess of Rs. 1 crore

iv)   in excess of Rs. 20 lakhs*

* for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired. The deduction of tax under this situation shall be at the rate of:

a)   2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year; or

b)   5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year.

 2

2/5
Section 194-O: Payment or credit of amount by the e-commerce operator to e-commerce participant 1
Section 194P: Deduction of tax by specified bank in case of senior citizen having age of 75 or more Tax on total income as per rate in force
Section 194Q: Payment to resident for purchase of goods of the aggregate value exceeding Rs. 50 lakhs

Note: TDS is deductible on sum exceeding Rs. 50 lakhs

 0.1
Any Other Income 10

 

 

  1. In the case of a person is a company and the said company is not a Domestic Company:

 

Particulars TDS Rates (in %)
Where the company is not a domestic company-  
Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort 30
Section 194BB: Income by way of winnings from horse races 30
Section 194E: Payment to non-resident sports association 20
Section 194G: Commission, etc., on sale of lottery tickets 5
Section 194LB: Payment of interest on infrastructure debt fund 5
Section 194LBA(2): – Payment of the nature referred to in Section 10(23FC)(a) 5
Section 194LBA(2): Payment of the nature referred to in Section 10(23FC)(b) 10
Section 194LBA(3): Business trust shall deduct tax while distributing any income received from renting or leasing or letting out any real estate asset owned directly by it to its unit holders. 40
Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)]. 40
Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA) 40
Section 194LC: Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond) 5 or 4*

* In case where interest is payable in respect of Long-term Bond or Rupee Denominated Bond listed on recognised stock exchange located in IFSC
Section 194LD:Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor 5
Section 195: Payment of any other sum  
a) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-section (1) of Section 112 10
b) Income by way of long-term capital gains as referred to in Section 112A 10
c) Income by way of short-term capital gains referred to in Section 111A 15
d) Any other income by way of long-term capital gains [not being long-term capital gains referred to in clauses 10(33) , 10(36) and 112A 20
e) Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC) 20
f) Income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1976 where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of Section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of Section 115A of the Income-tax Act, to a person resident in India 10
g) Income by way of royalty [not being royalty of the nature referred to in point f) above] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy—  
A. where the agreement is made after the 31st day of March, 1961 but before the 1st day of April, 1976 50
B. where the agreement is made after the 31st day of March, 1976 10
h) Income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy—  
A. where the agreement is made after the 29th day of February, 1964 but before the 1st day of April, 1976 50
B. where the agreement is made after the 31st day of March, 1976 10
i) Any other income 40
Section 196B: Income from units (including long-term capital gain on transfer of such units) to an offshore fund 10
Section 196C: Income from foreign currency bonds or GDR of an Indian company (including long-term capital gain on transfer of such bonds or GDR) 10
Section 196D: Income of foreign Institutional Investors from securities (not being dividend or capital gain arising from such securities)

Note: Tax shall be deducted at the rate provided under DTAA if same is lower than the existing TDS rate of 20%.

 20

 

TCS Rates for Financial Year 2021-22 (AY 2022-23)

Item/Commodity

TCS Rates
Alcoholic Liquor for Human Consumption

1.00%
Tendu Leaves

5.00%
Timber obtained under a forest lease

2.50%
Timber obtained by any mode other than under a forest lease

2.50%
Any other forest produce not being a Timber or tendu leave

2.50%
Scrap

1.00%
Minerals, being coal or lignite or iron ore

1.00%
Parking lot, toll plaza, mining & quarrying

2.00%
Sale Value of Motor vehicle whether in cheque or in any other mode of receipt (Exceeding Rs. 10 Lakhs per transaction)

1.00%
Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in a financial year if remitted amount is out of loan obtained from any financial institution u/s 80E for the purpose of pursuing any education. (w.e.f. 01.10.2020)

0.50%
Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs.7 Lakh in  any other case (w.e.f. 01.10.2020)

5.00%
Selling of overseas tour package (w.e.f. 01.10.2020)

5.00%
Sale of goods (Other than those being exported) of value exceeding Rs. 50 Lakh in previous year whose total Sale/ gross receipts / turnover from business exceeds Rs 10 Crore during immediately  financial year (Rs.50 Lakhs) (w.e.f. 01.10.2020)

0.10%

 

Due Date of TDS TCS Deposition

TAX DEDCUTED AT SOURCE (TDS)

TAX COLLECTED AT SOURCE (TCS)

7th day of next month (30th April for TDS deducted in the month of March)

7th day of next month (for TCS collected in the month of March – 7th April)

 

 

TDS Due Dates of FY 2021-22 for Return Filing

Quarter

 Period Last Date of Filing

1st Quarter

 1st April to 30th June 31st July 2021

2nd Quarter

 1st July to 30th September 31st October 2021

3rd Quarter

 1st October to 31st December 31st Jan 2022

4th Quarter

 1st January to 31st March 31st May 2022

 

TCS Last Dates of  FY 2021-22 for Return Filing

Quarter

Period

Last Date of Filing

1st Quarter

 1st April to 30th June 15th July 2021

2nd Quarter

 1st July to 30th September 15th October 2021

3rd Quarter

 1st October to 31st December 15th Jan 2022

4th Quarter

 1st January to 31st March 15th May 2022

 

Points to be considered:

1.Surcharge & Education Cess will not be considered for the purpose of TDS except in case of TDS on salary payment.

2.In case of non-availability of PAN the Higher of the following rates shall be applicable:

  • Twice the rate specified in the relevant provision of the Act; or
  • At the rate of 5%

3.Higher rate of TCS for not furnishing correct PAN @5% or twice of applicable rate whichever is higher.

4.Form 15G/ 15H received for non-deduction of TDS (including Nil return) – Now needs to report online on quarterly basis.

5.Quaterly Statement of TDS 31st July;    31st Oct;    31st Jan;   31st May

6.Deposition of TDS / TCS

  • TDS – March month – 30th April
  • Other Month 7th of next month
  • TCS – 7th of next month

7.Issue of TDS / TCS certificate – Within 15 Days from the due date of filing of quarterly TDS return Salary certificate in Form-16 upto 15th June of succeeding financial.

8.Fees of Rs.200/- per day for late filing of TDS and TCS Return.

9.Fail to file TDS return within one year of due date or furnishing incorrect information penalty Rs.10,000/- and can be extended to INR 1,00,000.