<h1>India Cuts TDS & TCS Rates by 25% for Non-Salaried Transactions to Boost Liquidity Amid COVID-19 Crisis.</h1> The Government of India announced a 25% reduction in the rates of Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) for specified non-salaried payments and receipts from May 14, 2020, to March 31, 2021. This measure aims to provide taxpayers with more liquidity amid the COVID-19 pandemic. The reduced rates apply to various payments, including interest, dividends, rent, and professional fees, as well as receipts like the sale of timber and motor vehicles. However, there will be no reduction in rates if tax is deducted or collected at a higher rate due to non-furnishing of PAN/Aadhaar. Legislative amendments will follow.