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PDF Download of TDS Rate Chart for FY 2021-22 (AY 2022-23) - Including Changes in Budget 2021


TDS Rates for FY 2021-22 PDF Download




Introduction




Tax Deducted at Source (TDS) is a method of collecting income tax from the source of income itself. It is a type of advance tax that helps prevent tax evasion and ensures timely payment of taxes to the government. The person who makes the payment (deductor) has to deduct a certain percentage of tax from the amount paid to the recipient (deductee) and deposit it with the government. The deductee can claim credit for the tax deducted at source on the basis of Form 26AS or TDS certificate issued by the deductor.


TDS is applicable to various types of income such as salary, interest, commission, rent, professional fees, dividend, etc. The rates of TDS vary depending on the nature of payment and the status of the deductee. The deductor has to deduct TDS at the rates prescribed by the Income Tax Act or the Finance Act. The deductor also has to file TDS returns and issue TDS certificates to the deductees within the specified time limits.




tds rates for fy 2021-22 pdf download



TDS Rates for FY 2021-22




The following table shows the TDS rates applicable for FY 2021-22 (AY 2022-23) for different types of payments and deductees. These rates are effective from 01.04.2021 and include the amendments announced by Union Budget 2021.



Section


Nature of Payment


Threshold Limit (Rs)


TDS Rate (%)


Remarks


192


Salary


As per Slab Rate


Normal Slab Rate or New Tax Regime Slab Rate as opted by employee


Option to choose between new and old tax slab regime for salaried employees


192A


Premature withdrawal from Employee Provident Fund (EPF)


50,000


10


TDS provisions applicable when withdrawal is taxable in the hands of an employee


193


Interest on securities


2,500 (5,000 for debentures; 10,000 for Savings Bonds)


10


-


194


Dividend other than dividend as referred to in Section 115-O


5,000


10


TDS not applicable to dividend income paid to a business trust by a special purpose vehicle or any other notified person


194A


Interest other than interest on securities (from deposits with banks/post office/co-operative society)


40,000 (50,000 for senior citizens)


10


-


...


Note: R = Resident; NR = Non-resident; FC = Foreign Company; PAN = Permanent Account Number; AY = Assessment Year; FY = Financial Year.


Source:


Disclaimer: This table is for informational purposes only and does not constitute legal or professional advice. Readers are advised to consult their tax advisors before making any tax-related decisions.


Some of the key changes in TDS rates introduced by Budget 2021 are:



  • The threshold limit for TDS on interest income from post office deposits has been increased from Rs 10,000 to Rs 40,000 for residents and from Rs 5,000 to Rs 40,000 for senior citizens.



  • The TDS rate on dividend income has been reduced from 20% to 10% for non-residents and foreign companies.



  • A new section 194Q has been inserted to levy TDS at 0.1% on purchase of goods exceeding Rs 50 lakh in a year by a buyer from a seller. This provision will apply from 01.07.2021.



  • A new section 206AB has been inserted to levy higher TDS rates for specified persons who have not filed their income tax returns for the previous two years and whose TDS/TCS liability is more than Rs 50,000 in each of those years. The higher TDS rates will be twice the prescribed rate or 5%, whichever is higher. This provision will apply from 01.07.2021.



  • A new section 206CCA has been inserted to levy higher TCS rates for specified persons who have not filed their income tax returns for the previous two years and whose TDS/TCS liability is more than Rs 50,000 in each of those years. The higher TCS rates will be twice the prescribed rate or 5%, whichever is higher. This provision will apply from 01.07.2021.



How to Download TDS Rates PDF




If you want to download the TDS rates PDF for FY 2021-22, you can follow these simple steps:



  • Visit the official website of the Income Tax Department at .



  • Click on the "Tax Payers" tab and select "Tax Deducted at Source (TDS)" from the drop-down menu.



  • On the next page, click on the "TDS Rates Chart" link under the "Related Links" section.



  • You will be redirected to a page where you can find the TDS rates chart for FY 2021-22 in PDF format.



  • Click on the "Download" button and save the file on your device.



Alternatively, you can also download the TDS rates PDF from other reliable sources such as .


Some of the benefits of downloading the TDS rates PDF are:



  • You can easily access the latest and updated TDS rates for different types of payments and deductees.



  • You can avoid any errors or penalties due to incorrect or outdated TDS rates.



  • You can plan your tax liability and cash flow better by knowing the amount of tax deducted at source on your income.



  • You can claim credit for the tax deducted at source on your income tax return by referring to the TDS certificate or Form 26AS.



Conclusion




TDS is an important aspect of income tax compliance that ensures timely payment of taxes to the government and prevents tax evasion. The TDS rates vary depending on the nature of payment and the status of the deductee. The Budget 2021 has introduced some changes in the TDS rates that will be effective from 01.04.2021 or 01.07.2021 as applicable. You can download the TDS rates PDF for FY 2021-22 from the official website of the Income Tax Department or other reliable sources and keep yourself updated with the latest information.


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We hope this article has helped you understand the TDS rates for FY 2021-22 and how to download them in PDF format. If you have any queries or feedback, please feel free to share them in the comments section below. Thank you for reading!


FAQs




Q1: What is Form 26AS?




A: Form 26AS is an annual consolidated statement that shows all the taxes deducted or collected at source on your income during a financial year. It also shows any advance tax or self-assessment tax paid by you, any refund issued by the Income Tax Department, and any high-value transactions reported by third parties. You can view or download Form 26AS from your e-filing account on the Income Tax Department website or through Net Banking facility of your bank. Form 26AS helps you verify the tax deducted or collected on your income and claim credit for the same on your income tax return.


Q2: What is the due date for filing TDS returns?




A: The due date for filing TDS returns depends on the quarter of the financial year and the type of deductor. The following table shows the due dates for filing TDS returns for FY 2021-22:



Quarter


Due Date for Government Deductors


Due Date for Non-Government Deductors


Q1 (April to June)


31st July 2021


31st July 2021


Q2 (July to September)


31st October 2021


31st October 2021


Q3 (October to December)


31st January 2022


31st January 2022


Q4 (January to March)


15th May 2022


31st May 2022


Note: These dates are subject to change due to any extension or notification by the Income Tax Department.


Q3: What is the penalty for late filing or non-filing of TDS returns?




A: If a deductor fails to file the TDS return within the due date, he/she will be liable to pay a penalty of Rs 200 per day for every day of delay until the default is rectified. However, the penalty amount cannot exceed the amount of TDS. If a deductor fails to file the TDS return within one year from the due date or furnishes incorrect information, he/she will be liable to pay a minimum penalty of Rs 10,000 and a maximum penalty of Rs 1 lakh.


Q4: How to check the status of TDS refund?




A: If you have claimed excess TDS credit on your income tax return and are eligible


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