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TDS rates for non-salaried reduced by 25% for remaining part of FY 20-21
13-May-20 17:31
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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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CIN: U74999TG2017PTC116012 | GSTIN: 36AAECI4332C1Z0 | PAN: AAECI4332C