Difference between TDS in Income Tax and TDS in GST

TDS in Income Tax

TDS in GST

Rate of TDS Under 194C

Payment to Individual /HUF 1%

Payment to Others 2%

Rate of TDS

Tds Rate is 1% in all cases

Applicable only If Deductor is

Covered in Tax Audit

(Individual/HUF/Partnership having turnover>1 Cr

Or

Company )

Applicable in Case of

1. Department of Central Government or State Government
2. Local Authority
3. Governmental Agencies
4. Others as may be notified

Cut off limit

30000 Single Payment

Or

100000 Annual

Cut off limit

250,000 Single Contract

Challan payment

Due date is 7 ^th  of next month

However, for March, it is 30 April

Due date is 10 ^th  of next month

(Even for March, it is same)

TDS Return

It is to be file quarterly one month from end of quarter

 Except last quarter

April-June->31 July

July-Sep->31 Oct

Oct-Dec->31 Jan

Jan-March->31 May

Form No Prescribed is Form 26Q

TDS Return

It is to be file monthly by 10 ^th  of next quarter

Form No Prescribed is GSTR 7

TDS Certificate

It is to be issued quarterly 15 days of filing TDS Return

In case of late payment, Penalty applicable is 100 per day

TDS Certificate

It is to be issued Monthly 5 days of filing TDS Challan

In case of late payment,

 Penalty applicable is 100 per day

Upto max 5000