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TDS & TCS Rates (Part 2) – Budget 2019

TDS
  • Author

    Vatsaraj & Co.

  • Date

    August 8, 2019

TDS Rates for Assessment Year 2020-21 (Financial Year 2019-20)

(B) On payments to Non-Residents (subject to notes below)

Sr.
Payments to
Non-Resident Payee
Criteria / Conditions
for Deduction
Section
Rate (%)**
1
Tax on Short Term Capital Gains
On sale of shares or units of mutual funds where STT is paid
111A
15
On sale of shares or units of mutual funds where STT is not paid
45
15
(a) In case of companies
(b) In case of persons other than companies
30
2
Tax on Long Term Capital Gains
Not being long term capital gains referred to section 10(33), 10(36) and 10(38) ie. on listed shares, units of an equity oriented fund, or units of business trust i.e. REITs & Invits
[Except for transactions covered u/s 112(1) (c)(iii)]
112
20
on income by way of long-term capital gains from unlisted securities u/s 112(1)(c)(iii)
112
10
3
Tax on Long Term Capital Gains on Transfer of Equity Share in company or a unit of equity oriented mutual fund or a unit of Business Trust (Note 9)
(i) STT is applicable on acqusition/ transfer (except Transfer on a recognised stock exchange located in any International Financial Services Centre and consideration is received in foreign currency),
112A
10
(ii) Tax on Long Term Capital Gains exceeding Rs. 1,00,000/-
112A
20
4
Winning From Lotteries crossword puzzles, card games and other games of any sort
Payment in excess of Rs. 10,000/-
194B
30
Winning From Horse Race
Payment in excess of Rs. 10,000/-
194BB
30
 
 
 
Tax on Interest
 
 
5
Winning From Horse Race
Payment in excess of Rs. 10,000/-
194BB
30
6
Tax on royalty or copyrights or on fees for technical services matters included in industrial policy or under approved agreements by an Indian concern or by Government of India
Agreements made or entered intoafter 31st March, 1976
115A(1)(b)
10
6
Tax on Interest
On borrowings in foreign currency:-
 
 
(a) by an Indian concern or by Government of India other than interest refered in (b) or (c) below
115A(1)(a)
20
(b) On notified infrastructure debt fund
194LB
5
(c) By Specified Companies or Business Trusts (REITs & Invits) under a loan agreement or any long term bond (Note 7)
194LC
5
8
Income by way of interest from SPV distributed by Business Trusts (REITS & INVITs)
No Threshold Limit
194LBA
5
9
Income by way of Rent from SPV distributed by REITs
No Threshold Limit
195
–
10
Income other than business income distributed by an Alternate Investment Fund (Category I & II )
No Threshold Limit
194LBB
Rates in Force
11
Income in respect of Investment in Securitization Trust
No Threshold Limit
194LBC
Rates in Force
12
Income by way of interest to FII or QFI
On Rupee denominated Bonds of Indian Company and Government Securities. (Note 8)
194LD
5
13
Payments to Non-Resident Sportsmen/Entertainer/Sports Association
Other than to a non-resident being an Indian citizen
194E
20
14
Other income
(a) In case of non-resident companies
–
40
(b) In case of non-residents other than foreign companies
–
30
15
Equalisation Levy
(Refer Note No. 6 below)

Notes
1
Cess @ 4% shall be levied additionally.
2
Treaty rates will differ from Country to Country. Treaty rates will apply only if Tax Residency Certificate is produced.
3
NRIs opting to be taxed under chapter XII-A, tax shall be deductible at the rate of ten percent on long term capital gains refered to in section 115E and twenty percent on investment income.
4
W.e.f. 1st April, 2010, the rate of TDS will be deducted u/s 206AA @ 20% in all cases, if PAN is not quoted
by the deductee. However, this condition is not applicable:
-in respect of Royalties, FTS, Interest and Capital Gains on compliance of conditions in Rule 37BC
-in respect of Interest covered u/s 194LC
5
TDS is to be deducted at “Rate in Force”. The term “Rate in force” means rate as per Income Tax Act, 1961 or Relevant DTAA rate, whichever is more benificial.
6
Equalisation Levy has been introduced for online advertisement / digital advertising space services provided by a non-resident to a resident or a permanent establishment of non-resident in India. The rate for such levy shall be six percent of the consideration.
7
TDS on Interest Payments u/s 194LC will now be available in respect of borrowings made before 1st July, 2020.
8
TDS on Interest Payments u/s 194LD will now be available in respect of interest payable before 1st July, 2020.
9
The Long Term Capital Gains shall be computed without giving effect to 1st and 2nd proviso to Section 48.
10
No tax at source is required to be deducted under section 195 by National Technical Research Organisation (‘NTRO’) on payments of royalty or fees for technical services paid to non resident or foreign company
11
In cases in which tax has to be deducted under sections 193, 194, 194A, 194B, 194BB, 194D,194LBA, 194LBB, 194LBC,192A, 194C, 194DA, 194E, 194EE, 194F,194G, 194H, 194-I, 194-IA, 194-IB, 194-IC, 194J, 194LA, 194LB, 194LBA, 194LBB, 194LBC, 194LC,194LD, 194M, 194N, 196B, 196C, 196D and 195 the rate at which the tax is to be deducted shall be increased by applicable surcharge
*
Certificate for deduction at lower rate can be applied for Section 195.
*
Surcharge Applicable:-
 
Payee Status
Deduction Threshold
Rate (%)
Non-Resident Individual, HUF, AOP, BOI or Artificial Judicial Person
Exceeding Rs. 50 lakhs upto 1crore
10%
Non-Resident Individual, HUF, AOP, BOI or Artificial Judicial Person
Exceeding Rs. 1 crore upto Rs.2 crore
15%
Non-Resident Individual, HUF, AOP, BOI or Artificial Judicial Person
Exceeding Rs. 2 crore upto Rs. 5 Crore
25%
Non-Resident Individual, HUF, AOP, BOI or Artificial Judicial Person
Exceeding Rs. 5 crores
37%
Co-Operative Society
Exceeding Rs. 1 crore
12%
Foreign Company
Exceeding Rs. 1 crore upto Rs. 10 crores
2%
Foreign Company
Exceeding Rs. 10 crores
5%


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