TDS Rate for FY 2023-24
Section 192 – TDS on Salary Payment
TDS Limit: As per Slab Rate
TDS Rate: AS per Slab Rate
Note: Employees shall choose an option between new tax slab regime and old tax slab regime. In case invalid Pan or no Pan then TDS rate shall be 30%.
Section 192A – TDS on payment of accumulated balance of provident fund which is taxable in the hands of an employee.
TDS Limit: INR 50,000
TDS Rate: 10%
Note: TDS rate is 10% in case of resident and 10.40% in case of non-resident. In case invalid Pan or No Pan then TDS Rate Shall be 20%.
Also See, “How to fill TDS Return.”
Section 193 – TDS on Interest on Securities
TDS Limit: INR 2,500
TDS Rate: 10%
Note: Threshold limit for interest paid on debentures is INR 5,000. Threshold limit for interest on 7.75% GOI Saving (Taxable) Bonds 2018 is INR 10,000.
TDS Rate is 10% in case of resident and 10.40% in case of non-resident. In case invalid Pan or No Pan then TDS Rate Shall be 20%.
Section 194 – TDS on Dividend other than dividend under section 115-O
TDS Limit: INR 5,000
TDS Rate: 10%
Note: TDS on dividend shall not apply to dividend income credited or paid to a business trust by a special purpose vehicle or payment of dividend to any other person as may be notified.
TDS rate is 10% in case of resident and company. In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194A – TDS on Interest other than interest on securities such as Interest on Banks Time deposits, Interest on Recurring deposit and Interest on Deposit in Co-op Banks
TDS Limit: INR 50,000 for Senior Citizen and INR 40,000 for Others.
TDS Rate: 10%
Note: TDS rate is 10% in case of Individual. In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194B – TDS on Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort
TDS Limit: INR 10,000
TDS Rate: 30%
Note: TDS rate is 30% in case of resident Indian and domestic companies and 31.20% in case of non-resident and foreign companies. . In case invalid Pan or no Pan then TDS rate shall be 30%.
Section 194BA – TDS on Income by way of winnings from online games.
TDS Limit : Nil
TDS Rate : 30%
Note : 30% in case of resident Indian and domestic companies and 31.20% in case of non-resident and foreign companies. . If there is no Pan or invalid pan then TDS Rate shall be 30%.
Section 194BB – TDS on Income by way of winnings from horse races
TDS Limit: INR 10,000
TDS Rate: 30%
Note: TDS rate is 30% in case of resident Indian and domestic companies and 31.20% in case of non-resident and foreign companies. . In case invalid Pan or no Pan then TDS rate shall be 30%.
Section 194C – TDS on Payment to Contractors or Sub contractor.
TDS Limit: Single Payment INR 30,000 or Aggregate payment INR 1, 00,000.
TDS Rate: 1% for Individual and 2% for Others
Note: In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 19C – TDS on Payment to Transporter not covered under 44AE
TDS Limit: Single Payment INR 30,000 or Aggregate payment INR 75,000.
TDS Rate: 1% for Individual and 2% for Others
Note: If Transporter covered under 44AE and submit declaration on prescribed form with PAN then TDS not to be deducted. In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194D – TDS on Insurance Commission
TDS Limit: INR 15,000
TDS Rate: 5% or 10%
Note: 10% if deductee is domestic company or 5% in any other cases. If there is no Pan or invalid pan then TDS Rate shall be 20%
Section 194DA – TDS on Payment in respect to Life Insurance policy
TDS Limit: INR 1,00,000
TDS Rate: 5%
Note: TDS shall be deducted on the amount of income comprised in insurance policy. This Section shall not be applicable if amount is exempt u/s 10(10D) i.e. amount received on policy maturity or Death benefit received. In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194E – TDS on Payment to non-resident sportsmen or sport associations.
TDS Limit: Nil
TDS Rate: 20%
Note: TDS rates shall be increase by applicable surcharge and HES.
TDS Rate for FY 2023-24
Section 194EE – TDS on Payment in respect of deposit under National Saving Scheme.
TDS Limit: INR 2,500
TDS Rate: 10%
Note: If there is no Pan or Invalid pan then TDS Rate shall be 20%
Section 194F – TDS on Payment in respect of unit repurchased by Mutual Fund or Unit Trust of India
TDS Limit: Nil
TDS Rate: 20%
Section 194G – TDS on Commission on sale of Lottery Tickets
TDS Limit: 15000
TDS Rate: 5%
Note: In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194H – TDS on Commission or Brokerage
TDS Limit: INR 15,000
TDS Rate: 5%
Note: In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194I(a) – TDS on Rent on Plant and Machinery
TDS Limit: INR 2,40,000
TDS Rate: 2%
Note: In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194I(b) – TDS on Rent on Land or Building or Furniture or Fitting.
TDS Limit: INR 2,40,000
TDS Rate: 10%
Note: In case invalid Pan or No Pan then TDS Rate shall be 20%.
Also See, “TDS on Rent Payment“
Section 194IA – TDS on Transfer of certain immovable property other than agriculture Land
TDS Limit: INR 50,00,000
TDS Rate: 1%
Note: In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194IB – TDS on Payment of Rent by Individual or HUF not liable for Tax Audit
TDS Limit: INR 50,000 per month
TDS Rate: 5%
Note: In case invalid Pan or No Pan then TDS Rate shall be 20%.
TDS Rate for FY 2023-24
Section 194IC – TDS on Payment of monetary consideration under Joint Development Agreement
TDS Limit: Nil
TDS Rate: 10%
Note: In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194J – TDS on Fee for Professional or Technical Services
TDS Limit: INR 30,000
TDS Rate: 2% or 10%
Note: In case of Fee for technical services or payee is engaged in business of call centre operation then TDS rate shall be 2% or in other cases TDS rate shall be 10%. In case invalid Pan or No Pan then TDS Rate Shall be 20%.
Section 194K – TDS on Payment of any income in respect of Units of Mutual fund as per section 10(23D).
TDS Limit: Nil
TDS Rate: 10%
Note: In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194LA – TDS on Tax deducted at source in respect of compensation on compulsory acquisition of Immovable property.
TDS Limit: 2,50,000
TDS Rate: 10%
Note: TDS will not be deducted if payment is made for any award or agreement which has been exempted from levy of income tax. In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194LBA (1) – TDS on Business trust shall deduct TDS while distributing any income to its unit holders.
TDS Limit: Nil
TDS Rate: 10%
Note: If there is no Pan or Invalid pan then TDS Rate shall be 20%
Section 194LB – TDS on Payment of Interest on Infrastructure debt fund to Non Resident
TDS Limit: Nil
TDS Rate: 5%
Note: If there is no Pan or Invalid pan then TDS Rate shall be 20%
Section 194LBB – TDS on Investment fund paying an Income to a Unit Holder
TDS Limit: Nil
TDS Rate: 10% in case of Individual and 30% in case of Company
Note: If there is no Pan or Invalid pan then TDS Rate shall be 30%
Section 194LBC – TDS on Income in respect of investment made in a securitization trust
TDS Limit: Nil
TDS Rate: 25% for Individual and 30% for others
Note: If there is no Pan or Invalid pan then TDS Rate shall be 30%
Section 194LC – TDS on income by way of interest by an Indian specified company to a non resident or foreign company on foreign currency approved loan / long term infrastructure bonds from outside India.
TDS Limit: Nil
TDS Rate: 5%
Note: If there is no Pan or Invalid pan then TDS Rate shall be 20%
TDS Rate for FY 2023-24
Section 194LD – TDS on Interest on Certain Bonds and Govt. Securities
TDS Limit: Nil
TDS Rate: 5%
Note: If there is no Pan or Invalid pan then TDS Rate shall be 20%
Section 194M – TDS on Specify Payments by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J.
TDS Limit: INR 50,00,000
TDS Rate: 5%
Note: The threshold Limit of INR 50 Lakhs for payment in respect of commission, professional Fee, contractual fee to a resident person by a HUF or an Individual who are not liable to deduct TDS. In case invalid Pan or No Pan then TDS Rate shall be 20%.
Section 194N – TDS on Cash Withdrawal
TDS Limit: INR 20 Lakh or 1 Crore
TDS Rate: 2% or 5%
TDS Rate 2% – Limit of INR 1 Crore
TDS Rate 2% – Limit of INR 20 Lakh upto INR 1 Crore – ITR of last 3 year not furnished
TDS Rate 5% – Exceeding 1 Crore – ITR of last 3 years not furnished.
Note: If there is no Pan or Invalid pan then TDS Rate shall be 20%
Section 194O – TDS on E Commerce Operator
TDS Limit: INR 5,00,000
TDS Rate: 1%
Note: E -Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform.
Note: If there is no Pan or Invalid pan then TDS Rate shall be 20%
Section 194Q – TDS on Purchase of Goods
TDS Limit: INR 50,00,000
TDS Rate: 0.10%
Note: The Threshold Limit is INR 50,00,000 applicable when total sales or gross receipts or turnover from the business carried on exceeds INR 10 Crores during the financial year immediately preceding the financial year in which the purchase of goods is carried out.
Also See, “TDS on Purchase of Goods“
Section 194P – TDS on TDS on Senior Citizen above 75 year.
TDS Limit and TDS Rate: As per Slab of Income of Senior Citizen including applicable Surcharge and Health & Education Cess.
Section 194R – TDS on benefit of perquisite in respect of business or Professional.
TDS Limit: INR 20,000 resident Individual
TDS Rate: 10%
Section 194S – TDS on transfer of Virtual Digital Assets
TDS Limit: Resident Individual and HUF INR 50,000 and for Others INR 10,000.
TDS Rate: 1%
Section 195 – TDS on Payment of any other sum to a Non resident
TDS Limit: Higher of Rate in force or Double Taxation Avoidance Act Rate
TDS Rate: See below
TDS rate 20.80% – Income from Investment made by a NRI.
TDS rate 10.40% – Income from LTCG under section 115E
TDS rate 10.40% – Income from LTCG
TDS rate 15.60% – Income from STCG under Section 111A
TDS rate 20.80% – Any other income from LTCG
TDS rate 20.80% – Income on interest payable on money borrowed in foreign currency
TDS rate 10.40% – Income from royalty payable by the Government or an Indian concern.
TDS rate 10.40% – Income from royalty other than that which is payable by the Government or an Indian concern.
TDS rate 10.40% – Income from fees for technical services payable by the Government or Indian Concern.
TDS rate 31.20% – Any other sources of Income.
Section 196B – Income from Units
TDS Limit: Nil
TDS Rate: 10%
Note: If there is no Pan or Invalid pan then TDS Rate shall be 20%
Section 196C: TDS on Income from foreign currency bonds or GDR (including long term capital gains on transfer of such bonds – Not being dividend)
TDS Limit: Nil
TDS Rate: 10%
Note: If there is no Pan or Invalid pan then TDS Rate shall be 20%
Section 196D: TDS on Income of FIIs from Securities
TDS Limit: Nil
TDS Rate: 20%
Note: If there is no Pan or Invalid pan then TDS Rate shall be 20%
Also See, “TDS on Purchase of Goods”
Also See, “Assessment under GST”
Also See, “OIDAR Services under GST”
Also See, “Equalisation Levy with Example”
Also See, “TDS Rate Chart for FY 2022-23”
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