Cut off date of TDS at reduced rates

This discussion clarifies the cut-off date for TDS deductions at reduced rates. It addresses whether the date of payment or the financial year determines the applicable rate. Specifically, it examines a scenario where a book entry for TDS under section 94J was made on 31.03.2021, but the TDS payment occurred on 01.04.2021. The consensus is that the reduced rate (7.5%) applicable until 31.03.2021 for COVID-19 relief would not extend to payments made on or after 01.04.2021, which would fall under the rates for FY 2021-22 unless new reduced rates are officially announced.