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194IB CBDT Income Tax NSDL PAN TAN TCS TCS payment TDS TDS payment TDS Rate Chart TDS Rates TDS Resources TDSMAN Software TIN NSDL Traces

TDS / TCS Rate Chart FY: 2022-23 (AY: 2023-24)

TDS RATE CHART FY: 2022-23 (AY: 2023-24)

SectionNature of Payment ThresholdIndv / HUFOthers
Rs.TDS Rate (%)
192Salaries Avg
192APremature withdrawal from EPF5000010
193Interest on Securities100001010
194Dividends50001010
194AInterest (Banks)400001010
194AInterest (Others)50001010
194ASenior Citizen5000010
194BWinning from Lotteries100003030
194BBWinnings from Horse Race100003030
194CContractor – Single Transaction3000012
194CContractor – During the F.Y.1 Lakh12
194CTransporter (44AE) declaration with PAN
194DInsurance Commission (15G-15H allowed)15000510
194DALife insurance Policy1 Lakh11
194ENon-Resident Sportsmen or Sports Association2020
194EENSS25001010
194FRepurchase Units by MFs2020
194GCommission – Lottery1500055
194HCommission / Brokerage1500055
194I(a)Rent of Plant / Machinery / Equipment2.40 Lakh22
194I(b)Rent of Land Building & Furniture2.40 Lakh1010
194IATransfer of certain immovable property other than agriculture land50 Lakh11
194IBRent by Individual / HUF (wef 01.06.2017)50000/PM5
194ICPayment under Specified agreement applicable for F.Y: 2017-18 onwards1010
194J (a)Fees-tech srvcs, call centre, royalty for sale etc.3000022
194J (b)Fee for professional service or royalty etc.300001010
194KPayment of dividend by mutual Funds50001010
194LACompensation on transfer of certain immovable property other than agriculture land2.50Lakh1010
194LAImmovable Property (TDS exempted under RFCTLARR Act (wef 01.04.2017)
194LBIncome by way of interest from infrastructure debt fund(non-resident)55
194LBACertain income from units of a business trust (applicable from 01.10.2014)1010
194LBACertain income from units of a business trust to non-resident (applicable from 01.10.2014)55
194LBBIncome in respect of investment of investment fund10% for residents, 30% for non-residents10% for residents, 40% for non-residents
194LBCIncome in respect of investment in securitization trust30% for residents, 40% for non-residents, 25% for individual & HUF30% for residents, 40% for non-residents, 25% for individual & HUF
194LCIncome by way of interest by an Indian specified company to a non-resident/foreign company on foreign currency approved loan/long term infrastructure bond ‘from outside India (applicable from July 1, 2012)55
194LDInterest on certain bonds and Govt. Securities (from 01.06.2013)55
194MPayment to commission, brokerage etc. by individual & HUF50 Lakh55
194NCash withdrawal in excess of 1 crore during the previous year from 1 or more account with a bank or co-operative society (wef 01.09.2019)1 Cr22
194OTDS on e-commerce participants5 Lakh1%(01.10.2020)1% (01.10.2020)
194P TDS in case of Specified Senior CitizenNot ApplicableRates in Force
194QTDS on Purchase of Goods exceeding Rs. 50 Lakhs (Applicable From 01-July-2021)In Excess of Rs. 50 Lakhs0.10.1
Note: TDS Rates without PAN – 20% flat (if TDS is lower than 20%) 

Notes:

1)The above list covers most of the sections applicable for domestic transactions
2)Section – 206AANotwithstanding anything contained in any other provisions of the Income Tax Act-1961, any person entitled to receive any sum or income or amount, on which tax is deductible under Chapter XVIIB (hereafter referred to as deductee) shall furnish his Permanent Account Number to the person responsible for deducting such tax (i.e. deductor), failing which tax shall be deducted at the higher of the following rates, namely:-
(i) at the rate specified in the relevant provision of this Act; or
(ii) at the rate or rates in force; or
(iii) at the rate of twenty percent:
Provided that where the tax is required to be deducted under section 194-O, the provisions of clause (iii) shall apply as if for the words “twenty percent”, the words “five percent” had been substituted.
Provided further that where the tax is required to be deducted under section 194Q, the provisions of clause (iii) shall apply as if for the words “twenty percent”, the words “five percent” had been substituted.
3)Section – 206ABNotwithstanding anything contained in any other provisions of the Income Tax Act-1961, where tax is required to be deducted at source under the provisions of Chapter XVIIB, other than sections 192, 192A, 194B, 194BB, 194LBC or 194N on any sum or income or amount paid, or payable or credited, by a person to a specified person, the tax shall be deducted at the higher of the following rates, namely:––
(i) at twice the rate specified in the relevant provision of the Act; or
(ii) at twice the rate or rates in force; or
(iii) at the rate of five per cent.
If the provisions of section 206AA is applicable to a specified person, in addition to the provision of this section, the tax shall be deducted at higher of the two rates provided in this section and in section 206AA.
For the purposes of this section “specified person” means a person who has not filed the returns of income for both of the two assessment years relevant to the two previous years immediately prior to the previous year in which tax is required to be deducted, for which the time limit of filing return of income under sub-section (1) of section 139 has expired; and the aggregate of tax deducted at source and tax collected at source in his case is rupees fifty thousand or more in each of these two previous years
Provided that the specified person shall not include a non-resident who does not have a permanent establishment in India.

TDS RATE CHART (FOREIGN) FY: 2022-23 (AY: 2023-24)

SectionNature of PaymentThresholdIndv / HUFOthers
RS.Existing TDS Rates (%)
195Payment to Non-residents00
194ENon-resident Sportsman or Sports Assn2020
196AForeign Company being unit holder in Mutual Fund              –2020
196BUnits held by Off-shore Fund55
196CIncome from Foreign Currency Bonds55
196DIncome of FII on Securities2020
194LBInterest from infrastr. debt fund payable to non-resident55
194LCInterest from specified company payable to non-resident55
194LDInterest on certain bonds and govt securities55
194LBACertain income from units of a business trust55
194LBBIncome on units of Investment Fund3040
194LBCIncome in respect of investment in securitization trust3040
194NPayment of certain amounts in cash22
194LBA(a)Income referred to in section 10(23FC)(a) from units of a business trust1010
194LBA(b)Income referred to in section 10(23FC)(b) from units of a business trust55
194NFPayment of certain amounts in cash to non-filers11
194LBA(c)Income referred to in section 10(23FCA) from units of a business trust3030
Note: TDS Rates without PAN – 20% flat (if TDS is lower than 20%)

Note: The above list covers most of the sections applicable for domestic transactions

TCS RATE CHART FY: 2022-2023 (AY:2023-2024)

SectionNature of PaymentTCS Rate %
206CEScarp1
206CITendu Leaves5
206CBTimber obtained under a forest lease or other mode2.5
206CDAny other forest produce not being a timber or tendu leaves2.5
206CAAlcoholic Liquor for human consumption & Tendu leaves1
206CFParking Lot2
206CGToll Plaza2
206CHMining 7 Quarrying2
206CJMinerals1
206CLSale of Motor Vehicle1
206CKBullion & Jewellery1
206CMSale in cash of any goods(other than bullion)1
206CNProviding of any service (other than Ch-XVII-B)1
206CQLRS-other purposes – Liberalized Remittance Scheme5% (10% for non-PAN or Aadhar)
206COTour Program Package5% (10% for non-PAN or Aadhar)
206CRSale of Goods0.1% (1% for non-PAN or Aadhar)
206CCTimber obtained under any other mode other than forest lease2.5
206CPLRS – Educational Loan – Financial Institution0.5
Note: TCS Rates without PAN – Double of TCS rate as above or 5%, whichever is higher

Note: The above list covers most of the sections applicable for domestic transactions

Click here to download the list of TDS & TCS Rate Chart for FY: 2022-23.

1. Surcharge is not deductible on payments made to residents, other than salary.
2. In case of non-resident, surcharge would be applicable on TDS.

*Disclaimer – Efforts have been made to provide correct information. However, we do not take liability of any kind in case of any error or miscommunication in the document.

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