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TDS rates for non-salaried reduced by 25% for remaining part of FY 20-21

13-May-20 17:31

In order to provide more funds at the disposal of the taxpayers, the rates of Tax Deduction at Source (TDS) for non-salaried specified payments made to residents and rates of Tax Collection at Source (TCS) for the specified receipts shall be reduced by 25% of the existing rates.

  • Payments eligible
    • contracts,
    • professional fees,
    • interest, rent,
    • dividend,
    • commission,
    • brokerage, etc.
  • This reduction shall be applicable for the remaining part of the FY 2020-21 i.e. from 14th May 2020 till 31st March 2021.
  • This measure will release liquidity of Rs. 50,000 crore.

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Comments

NVSS WORLD B

NVSS WORLD B

13-May-20 17:35

Why for us not applicable to studies of ca dont post these

Suraj Lakhotia

Suraj Lakhotia

13-May-20 17:36

There would be students who will be doing articleship. When you audit your clients next year, you should be aware of these Provisions.

NVSS WORLD B

NVSS WORLD B

13-May-20 17:37

Ohh in that case ok sir I thought this would keep students in tension who r preparing

Adithya V

Adithya V

14-May-20 08:26

Tq sir for the info.