ITDS on rent paid for FY 2020-21


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Quick Summary
This discussion clarifies the TDS (Tax Deducted at Source) applicable to building rent paid during the financial year 2020-21. For payments made between 14th May 2020 and 31st March 2021, the TDS rate was reduced to 7.5%. For other periods within FY 2020-21, the standard 10% TDS rate applies if the annual rent exceeds the threshold limit of £2,40,000.

11 May 2021 What % ITDS to be deducted on Building rent paid during FY 2020-21 and what is threshold limit ?

11 May 2021 10% TDS applicable threshold is 2,40,000.

13 May 2021 In case of transactions between 14th May 2020 to 31st Mar 2021, 7.5% is the rate of TDS


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