Tds rate as per FM announcement

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student
746 Points Posted on 22 May 2020
how to consider the tds rate deduction as per the announcement by FM of discount of 25%. it says from 13th May but if my invoice was actually pertaining to March 2020 which I received just now with current invoice date then what should be the rate
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On 22 May 2020 at 00:09 Report
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Quick Summary
This discussion clarifies how to apply the reduced TDS rate announced by the Finance Minister, effective from May 13th. It addresses scenarios where invoices pertain to an earlier financial year (like March 2020) but are received after the announcement date. The consensus is that the reduced rate should be applied if the invoice date falls within the specified period of the announcement.

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Finance/Compliance Consultant
69228 Points Posted on 23 May 2020

TDS should be deducted with the reduced rate as it fall between 14th May 2020 to 31st March 2021

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On 23 May 2020 at 12:50
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student
746 Points Posted on 24 May 2020
Ex. if auditor sends bill for stat audit fy 2019-20 and I have made a provision in March but I get invoice on 14th may then what will be my rate
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On 24 May 2020 at 11:33

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