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TDS Rates applicable for FY 2021-22 or AY 2022-23

CA Jainish R. Parikh 
Updated on 30 March 2021

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Rates of TDS
Applicable for Financial Year 2021-22 or Assessment Year 2022-23

TDS Rates applicable for FY 2021-22 or AY 2022-23

Section

Nature of Payment

Threshold Limit for deduction tax

Rate of TDS applicable for the period (Individual /Company and others New Rate %)

Remarks

Individual

Company

Other

If No Pan or Invalid PAN (Rate)

192

Salary

As per Slab [Please note that no Change in Slab Rates have been introduced for FY 2021- 22]

Slab Rates

Slab Rates

-

30

Option to choose between new and old tax slab regime for salaried employees

192-A

Premature withdrawal from Employee Provident Fund (Payment of accumulated balance of provident fund which is taxable in the hands of an employee)

Rs.50,000

10

NA

NA

20

TDS provisions u/s 192A will be applicable when withdrawal of accumulated balance in Recognized Providend Fund is to be included in the total income 10% in case of Resident and 10.40% in case of Non- Resident

193

Interest on securities

-

10

10

-

20

Threshold limit for interest paid on debentures is Rs. 5,000. Threshold limit for interest on 7.75% GOI Savings (Taxable) Bonds 2018 is Rs. 10,000.

194

Dividend other than the dividend as referred to in Section 115-O

Rs.2500

10

10

-

20

This amendment proposes to amend second proviso to section 194 of the Act to further provide that the provisions of section 194 i.e. TDS on dividend shall also not apply to dividend income credited or paid to a business trust by a special purpose vehicle or payment of dividend to any other person as may be notified. This means that no TDS needs to be deducted to AIF Category III also.

194-A

Interest other than interest on securities - Banks Time deposits, Recurring deposit and Deposit in Co-op Banks

*       Senior Citizen Rs. 50,000

*             Others Rs. 40,000

10

-

-

20

15G/15H applicable

 
 

To read the full article, find the enclosed attachment


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