TDS Rate 194 J

This discussion clarifies the application of TDS Rate 194 J from April 1st, 2020, which introduced two rates: 2% and 10%. The core question is whether the old or new TDS rate applies when an invoice is dated April 2020 but the service was rendered in March 2020. The consensus is that TDS deduction for FY 2020-21 should follow the rates applicable during that financial year, typically based on the earlier of the invoice date or payment date.