TDS rate on March bill in April

This discussion clarifies the applicable TDS rate for a transporter's March bill received in April. Generally, TDS is deducted based on the date of booking or payment, whichever is earlier. For expenses booked in March, 1.5% TDS would apply. However, if the bill is received and booked in April, the rate would be 2%. It's also noted that reduced TDS rates were in effect from May 2020 to March 2021.