Now that FY 2021-22 or AY 2022-23 has started people are required to deduct TDS on various payments made by them.
Now CBDT has released rate chart for same so that people can deduct correct TDS.
It is important to note that this rate chart will be applicable on each transaction for which TDS is being deducted in FY 2021-22.
Various new sections have been introduced under TDS such as section 194P, 194Q etc. and also now the discount in TDS and TCS rates which was available last year is not available now. Hence, any TDS deducted in FY 2021-22 will be deducted at normal rate.
To download full chart CLICK HERE.
If you wish to download a combined TDS and TCS chart prepared by our team at Taxontips.com CLICK HERE.