TDS/TCS provisions applicable (for FY 2021-22 AY 2022-23)
Last edited on 17-June-2021
TDS provisions applicable for payments to Residents
| Section | Nature of Payment | Basic condition | Rate | Summary |
| 192 | Salary | Any employee with salary > 2.5 lakhs | Slab rate | Deduct at old slab rates unless specifically asked |
| 194C | Contractors
& Sub-contractors |
Single payment > 30000
or aggregate payment > 1 lakh |
1% – Individual
2% – Others |
If in works contract, material is not separately mentioned, TDS will be on whole bill.
Not applicable to transport contract if sec 44AE applicable – declaration needed. |
| 194H | Commission or brokerage | Exceeds Rs.15000 | 5% | |
| 194I (a) | Rent on Plant & machinery | Exceeds Rs.2,40,000 | 2% | |
| 194I (b) | Rent on Land or building or furniture or fitting | 10% | ||
| 194IA | Transfer of immovable property | 50 lakhs and above | 1% | Consideration to include club membership, parking, electricity or water facility fee, etc |
| 194IC | JDA agreement | 10% | ||
| 194J | Professional or technical fees | Exceeds Rs.30,000 | 2% of technical fees or royalty
10% others |
|
| 194Q1 | Purchase of goods | Turnover > 10 crore
& Purchase > 50 lakhs |
0.1% | Refer separate article |
TCS provisions applicable for payments to Residents
| 206C (1) | Scrap sales | 1% | ||
| 206C (1F) | Vehicle sales | If value > 10 lakhs | 1% | |
| 206C (1H)2 | Sale of goods | Turnover > 10 crore
& Sales > 50 lakhs |
0.1% | Refer separate article |
TDS provisions applicable for payments to Non-Residents
| 195 | Non-resident | Rate and conditions vary – call office |
TDS provisions applicable in case of non-furnishing of PAN or non-filers of ITR
| 206AA | Non -furnishing of PAN | 20% | Refer separate article |
| 206AB1 | Non-filers of IT return |
TCS provisions applicable in case of non-furnishing of PAN or non-filers of ITR
| 206CC | Non -furnishing of PAN | 5% | Refer separate article |
| 206CCA1 | Non-filers of IT return |
TDS provisions applicable for Individuals/HUF (non-business payments)
| 194IB | Rent by Individuals | Sec 194 I not applicable
& above Rs.50,000 p.m |
5% | If no PAN or IT return filed, the rate will be 20% or 10% restricted to last month rent. |
| 194M | Contract, Commission or brokerage or professional charges | Sec 194C, 194H or 194J does not apply &
Exceeds 50 lakhs |
5% |
1applicable from 01-04-2021
2applicable from 01-10-2021
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