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



Quick Summary
This article outlines the Tax Deducted at Source (TDS) rates applicable for the Financial Year 2021-22, corresponding to Assessment Year 2022-23. It details the specific rates and threshold limits for various payments, including salary, premature withdrawal from the Employees' Provident Fund (EPF), interest on securities, dividends, and interest earned from bank deposits and co-operative banks. The information is presented to help individuals and companies understand their TDS obligations.

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

TDS Rates FY 2021-22 / AY 2022-23: Your Guide

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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About the Author

CA in practice

CA Jainish Parikh is a Chartered Accountant by profession and a blogger by passion. His major areas of practice are finance, Domestic andInternational taxation as well as Indirect Taxes. He has experience of working on corporate and non-corporate tax planning, NRI taxation, and individual taxation. The other areas of h ... Read more

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