TDS RATE CHART FY: 2023-24 (AY: 2024-25)
| Section | Nature of Payment | Threshold | Indv / HUF | Others |
| Rs. | TDS Rate (%) | |||
| 192 | Salaries | – | Avg | – |
| 192A | Premature withdrawal from EPF | 50000 | 10 | – |
| 193 | Interest on Securities | 10000 | 10 | 10 |
| 194 | Dividends | 5000 | 10 | 10 |
| 194A | Interest (Banks) | 40000 | 10 | 10 |
| 194A | Interest (Others) | 5000 | 10 | 10 |
| 194A | Senior Citizen | 50000 | 10 | – |
| 194B | Winning from Lotteries | 10000 | 30 | 30 |
| 194BA | Winnings from online games | – | 30 | 30 |
| 194BB | Winnings from Horse Race | 10000 | 30 | 30 |
| 194BP | Lotteries/crossword puzzles-made in kind/cash not suffice to meet the tax liability and paid before | 10000 | 30 | 30 |
| 194C | Contractor – Single Transaction | 30000 | 1 | 2 |
| 194C | Contractor – During the F.Y. | 1 Lakh | 1 | 2 |
| 194C | Transporter (44AE) declaration with PAN | – | – | – |
| 194D | Insurance Commission (15G-15H allowed) | 15000 | 5 | 10 |
| 194DA | Life insurance Policy | 1 Lakh | 1 | 1 |
| 194EE | NSS | 2500 | 10 | 10 |
| 194F | Repurchase Units by MFs | – | 20 | 20 |
| 194G | Commission – Lottery | 15000 | 5 | 5 |
| 194H | Commission / Brokerage | 15000 | 5 | 5 |
| 194I(a) | Rent of Plant / Machinery / Equipment | 2.40 Lakh | 2 | 2 |
| 194I(b) | Rent of Land Building & Furniture | 2.40 Lakh | 10 | 10 |
| 194IA | Transfer of certain immovable property other than agriculture land | 50 Lakh | 1 | 1 |
| 194IC | Payment under Specified agreement applicable for F.Y: 2017-18 onwards | – | 10 | 10 |
| 194J (a) | Fees-tech srvcs, call centre, royalty for sale etc. | 30000 | 2 | 2 |
| 194J (b) | Fee for professional service or royalty etc. | 30000 | 10 | 10 |
| 194K | Payment of dividend by mutual Funds | 5000 | 10 | 10 |
| 194LA | Compensation on transfer of certain immovable property other than agriculture land | 2.50Lakh | 10 | 10 |
| 194LA | Immovable Property (TDS exempted under RFCTLARR Act (wef 01.04.2017) | – | – | – |
| 194LA | Immovable Property | 2.50Lakh | 10 | 10 |
| 194LB | Income by way of interest from infrastructure debt fund(non-resident) | – | 5 | 5 |
| 194LBA | Certain income from units of a business trust (applicable from 01.10.2014) | – | 10 | 10 |
| 194LBA | Certain income from units of a business trust to non-resident (applicable from 01.10.2014) | – | 5 | 5 |
| 194LBB | Income in respect of investment of investment fund | – | 10% for residents, 30% for non-residents | 10% for residents, 40% for non-residents |
| 194LBC | Income in respect of investment in securitization trust | – | 30% for residents, 40% for non-residents, 25% for individual & HUF | 30% for residents, 40% for non-residents, 25% for individual & HUF |
| 194LC | Income 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) | – | 5 | 5 |
| 194LD | Interest on certain bonds and Govt. Securities (from 01.06.2013) | 5 | 5 | |
| 194M | Payment to commission, brokerage etc. by individual & HUF | 50 Lakh | 5 | 5 |
| 194N | Cash 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 Cr | 2 | 2 |
| 194NF | Payment of certain amounts in cash to non-filers | 2000000 | 2 | 2 |
| 194NF | Payment of certain amounts in cash to non-filers | 10000000 | 5 | 5 |
| 194O | TDS on e-commerce participants | 5 Lakh | 1%(01.10.2020) | 1% (01.10.2020) |
| 194P | TDS in case of Specified Senior Citizen | Not Applicable | Rates in Force | |
| 194Q | TDS on Purchase of Goods exceeding Rs. 50 Lakhs (Applicable From 01-July-2021) | In Excess of Rs. 50 Lakhs | 0.1 | 0.1 |
| 194R | Benefits or perquisites of business or profession | 20000 | 10 | 10 |
| 194RP | Benefits or perquisites of business or profession where such benefit is provided in kind or where part in cash is not sufficient to meet tax liability and tax required to be deducted is paid before such benefit is released | 20000 | 10 | 10 |
| 194S | Payment of consideration for transfer of virtual digital asset by persons other than specified persons | 10000 | 1 | 1 |
| 194SP | Payment for transfer of virtual digital asset where payment is in kind or in exchange of another virtual digital asset and tax required to be deducted is paid before such payment is released | 10000 | 1 | 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 – 206AA | Notwithstanding 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. |
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| 3) | Section – 206AB | Notwithstanding 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. |
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TDS RATE CHART (FOREIGN) FY: 2023-24 (AY: 2024-25)
| Section | Nature of Payment | Threshold | Indv / HUF | Others |
| RS. | Existing TDS Rates (%) | |||
| 195 | Payment to Non-residents | – | 0 | 0 |
| 194E | Non-resident Sportsman or Sports Assn | – | 20 | 20 |
| 196A | Foreign Company being unit holder in Mutual Fund | – | 20 | 20 |
| 196B | Units held by Off-shore Fund | – | 10 | 5 |
| 196C | Income from Foreign Currency Bonds | – | 5 | 5 |
| 196D | Income of FII on Securities | – | 20 | 20 |
| 196DA | Income of specified fund from securities | – | 10 | 10 |
| 194LB | Interest from infrastr. debt fund payable to non-resident | – | 5 | 5 |
| 194LC | Interest from specified company payable to non-resident | – | 5 | 5 |
| 194LD | Interest on certain bonds and govt securities | – | 5 | 5 |
| 194LBA | Certain income from units of a business trust | – | 5 | 5 |
| 194LBB | Income on units of Investment Fund | – | 30 | 40 |
| 194LBC | Income in respect of investment in securitization trust | – | 30 | 40 |
| 194N | Payment of certain amounts in cash | – | 2 | 2 |
| 194LBA(a) | Income referred to in section 10(23FC)(a) from units of a business trust | – | 10 | 10 |
| 194LBA(b) | Income referred to in section 10(23FC)(b) from units of a business trust | – | 5 | 5 |
| 194NF | Payment of certain amounts in cash to non-filers | – | 1 | 1 |
| 194LBA(c) | Income referred to in section 10(23FCA) from units of a business trust | – | 30 | 30 |
| 192A | Payment against EPF Scheme | 30000 | 10 | 10 |
| Note: TDS Rates without PAN – 20% flat (if TDS is lower than 20%) |
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TCS RATE CHART FY: TDS / TCS Rate Chart FY: 2023-24 (AY: 2024-25)
| Section | Nature of Payment | TCS Rate % | ||
| 206CE | Scarp | 1 | ||
| 206CI | Tendu Leaves | 5 | ||
| 206CB | Timber obtained under a forest lease or other mode | 2.5 | ||
| 206CD | Any other forest produce not being a timber or tendu leaves | 2.5 | ||
| 206CA | Alcoholic Liquor for human consumption & Tendu leaves | 1 | ||
| 206CF | Parking Lot | 2 | ||
| 206CG | Toll Plaza | 2 | ||
| 206CH | Mining & Quarrying | 2 | ||
| 206CJ | Minerals | 1 | ||
| 206CL | Sale of Motor Vehicle | 1 | ||
| 206CK | Bullion & Jewellery | 1 | ||
| 206CM | Sale in cash of any goods(other than bullion) | 1 | ||
| 206CN | Providing of any service (other than Ch-XVII-B) | 1 | ||
| 206CQ | LRS-other purposes – Liberalized Remittance Scheme | 5% (10% for non-PAN or Aadhar) | ||
| 206CO | Tour Program Package | 5% (10% for non-PAN or Aadhar) | ||
| 206CR | Sale of Goods | 0.1% (1% for non-PAN or Aadhar) | ||
| 206CC | Timber obtained under any other mode other than forest lease | 2.5 | ||
| 206CP | LRS – Educational Loan – Financial Institution | 0.5 | ||
| Note: TCS Rates without PAN – Double of TCS rate as above or 5%, whichever is higher | ||||
Notes:
| 1) | The above list covers most of the sections applicable for domestic transactions | ||||
| 2) | Section-206CC | Notwithstanding anything contained in any other provisions of the Income Tax Act-1961, any person paying any sum or amount, on which tax is collectible at source under Chapter XVII-BB (herein referred to as collectee) shall furnish his Permanent Account Number to the person responsible for collecting such tax (herein referred to as collector), failing which tax shall be collected at the higher of the following rates, namely:- (i) at twice the rate specified in the relevant provision of this Act; or (ii) at the rate of five per cent. The provisions of this section shall not apply to a non-resident who does not have permanent establishment in India. |
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| 3) | Section-206CCA | Notwithstanding anything contained in any other provisions of the Income Tax Act-1961, where tax is required to be collected at source under the provisions of Chapter XVII-BB, on any sum or amount received by a person (hereafter referred to as collectee) from a specified person, the tax shall be collected at the higher of the following two rates, namely:- (i) at twice the rate specified in the relevant provision of the Act; or (ii) at the rate of five per cent. If the provisions of section 206CC is applicable to a specified person, in addition to the provisions of this section, the tax shall be collected at higher of the two rates provided in this section and in section 206CC. 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 collected, 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. |
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Click here to download the list of TDS & TCS Rate Chart for FY: 2023-24.
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.
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