TDS Rates Cut by 25% in Rate of Tax Deduction at Source (TDS) & Tax Collection at Source (TCS)

The Central Board of Direct Taxes has reduced the rate of Tax Deducted at Source (TDS) by 25%. This is applicable from 15 May 2020 to 31 March 2021 to provide more funds in the hands of businesses and individuals during the COVID-19 pandemic. Read More. To simplify this for you, Nway ERP automatically creates some reduced tax rates and lets you apply them to relevant transactions.