Government of India had reduced the rate of Tax Deduction at Source ( TDS) & Tax Collection at Source (TCS) on the following items from 14 May 2020 to 31st March 2021 as follows :
- Interest on securities, dividend,
- Interest other than interest on securities,
- Payment of Contractors and Sub-contractors,
- Insurance commission,
- Payment in respect of deposits under National Savings Scheme,
- Payments on account of re-purchase of Units by Mutual Funds or UTI
- Commission, prize etc., on sale of lottery tickets,
- Commission or brokerage,
- Rent for plant and machinery,
- Rent for immovable property,
- Payment of rent by individual or HUF,
- Payment for Joint Development Agreements,
- Fee for Professional or Technical Services ( FTS), royalty, etc.,
- Payment of dividend by Mutual Funds,
- Payment of compensation on acquisition of immovable property
- Payment of Income by Business trust
Government of India Notification
