Applicability of reduced rates of TDS

[Krishna Murthy]

Sir, there was a press release from the Finance Ministry regarding reduced rates of TDS by 25% on 13 May 2020. Is there any official notification issued by the Government in this matter of reduced rates of TDS. If not so, then it is mandatory to deduct TDS at the actual rates. Please comment on this sir.

[DR.MARIAPPAN GOVINDARAJAN]

The period for TDS at reduce rates is from 14.05.2020 to 31.03.2021. During this period TDS may be recovered at reduced rate.

AI Summary

Finance Ministry Confirms 25% TDS Rate Cut Effective May 14, 2020, to March 31, 2021 A query was raised regarding the applicability of a 25% reduction in TDS rates announced by the Finance Ministry on May 13, 2020. The inquirer asked if there was an official government notification confirming this reduction. The response clarified that the reduced TDS rates were applicable from May 14, 2020, to March 31, 2021, during which TDS could be deducted at the reduced rate.