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

Reduced TDS rates permitted for a specified relief period, allowing withholding to be collected at the lowered rate.
The response states that the period of applicability for the reduced rates of TDS is from 14.05.2020 to 31.03.2021, and that during that period TDS may be recovered at the reduced rate.