S.No. | Section of the Income Tax Act | Nature of Payment | Existing rate of TDS | Reduced rate from 14/05/2020 to 31/03/2021 |
1 | 193 | Interest on Securities | 10% | 7.5% |
2 | 194 | Dividend | 10% | 7.5% |
3 | 194A | Interest other than interest on securities | 10% | 7.5% |
4 | 194C | Payment of contractors and sub-contractors | 1% (individual/HUF) 2% (others) | 0.75% (individual/HUF) 1.5% (others) |
5 | 194D | Insurance Commission | 5% | 3.75% |
6 | 194DA | Payment in respect of life insurance policy | 5% | 3.75% |
7 | 194EE | Payment I respect of deposits under national Savings scheme | 10% | 7.5% |
8 | 194F | Payment on account of re-purchase of Units by Mutual Funds or UTI | 20% | 15% |
9 | 194G | Commission prize etc on sale of lottery tickets | 5% | 3.75% |
10 | 194H | Commission or brokerage | 5% | 3.75% |
11 | 194-I(a) | Rent for plant and machinery | 2% | 1.5% |
12 | 194-I(b) | Rent for immovable property | 10% | 7.5% |
13 | 194-IA | Payment for acquisition of immovable property | 1% | 0.75% |
14 | 194-IB | Payment of rent by individual or HUF | 5% | 3.75% |
15 | 194-IC | Payment for Joint development Agreements | 10% | 7.5% |
16 | 194J | Fee for professional or technical Services (FTS),Royalty, etc. | 2% (FTS, certain royalties, call centre) 10% (others) | 1.5% (FTS, certain royalties, call centre) 7.5% (others) |
17 | 194K | Payment of dividend by mutual funds | 10% | 7.5% |
18 | 194LA | Payment of compensation on acquisition of immovable property | 10% | 7.5% |
19 | 194LBA(1) | Payment of income by business trust | 10% | 7.5% |
20 | 194LBB(i) | Payment of income by investment fund | 10% | 7.5% |
21 | 194LBC(1) | Income by securitisation trust | 25% (individuals/HUF) 30% (others) | 18.75% (individual/HUF) 22.5% (others) |
22 | 194M | Payment to commission, brokerage etc. by individual and HUF | 5% | 3.75% |
23 | 194-O | TDS on e-commerce participants | 1% (w.e.f.1.10.2020) | 0.75% |