This free downloadable Handbook: TDS Rates FY 2020-21 will help you to know full TDS rates with section references. In annexure below the TDS rates handbook, explanation also provided for details understanding of the readers.
The people working in accounts section and responsible for payment or collection of money require to know the updated TDS rates at source. If the tax was not deducted or collected at source where applicable then legal consequences will arise results penalty. The deduction or collection is important as well as timely deposit to the government treasury is also important.
We have YouTube channel where we have uploaded a video on TDS time limit and manner. The below video will help you to comply with timely deposit of tax deducted at source.
There are several reporting on tax deducted or collected at source. Monthly, half-yearly and yearly tax reporting require to submit to the tax circle. As the tax deduction or collection at applicable areas are the first responsibilities, so you have to know the tax rates at source. Each year, TDS rates change through finance act.
We have updated the list based on the Finance Act 2020 where you will get the full TDS rates with section references for the financial year 2020-21. You may print this handbook or save in your computer to check during the payment to know whether tax at source is applicable or not. If tax at source is applicable then deduct or collect tax at the prescribed rate.
We have also published the Handbook: VAT Rates FY 2020-21, Handbook: Supplementary Duty (SD) Rates FY 2020-21 and Handbook: VAT Exempted Goods and Services FY 2020-21. You may visit these post and download PDF version of these rates. So, all of these rates will help you to comply with tax and VAT at source.