In the press conference held on May 13, 2020 the Finance Minister, Smt. Nirmala Sitharaman, announced that the rates of TDS/TCS in respect of specified payments/receipts shall be reduced by 25%. This concession in the rate shall be available for the tax deducted or collected between 14-05-2020 till 31-03-2021. This relief shall not be available to a salaried and non-resident taxpayer. For you ease understanding we have prepared the TDS/TCS rate chart for better clarity.
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