Finance Minister Ms. Nirmala Sitharaman in her address to the nation on Wednesday announced that in order to provide more funds to the disposal of the taxpayers, the rates of TDS for specified non – salary payments made to residents and TCS rates reduced by 25% for FY 2020 – 2021.  This reduction shall be applicable from 14th May 2020 – 31st March 2021.

The Press release dtd. 13th May specifiying the reduced TDS & TCS rates