TDS Rate Applicable for FY 2023-24 or AY 2024-25

Section Deductee* Nature of transaction Threshold Limit (Rs) TDS Rate
192 R, NR Payment of salary Basic exemption limit of employee Normal Slab Rates
192A R, NR Premature withdrawal from EPF 50,000  10% 

Budget 2023: TDS rate for EPF withdrawals without a PAN number is now 20%, from the previous maximum marginal rate
193 R Interest on securities Debentures- 5,000 

8% Savings (Taxable) Bonds 2003 or 7.75% Savings (Taxable) Bonds 2018- 10,000 

Other securities- No limit
10%
Budget 2023: Exemption of TDS on interest from listed debentures has been removed. Therefore, tax has to be deducted on interest on such specified securities.
194 R Payment of any dividend 5,000 10%
194A R Interest from other than interest from securities (from deposits with banks/post office/co-operative society) Senior Citizens- 50,000 

Others- 40,000
10%
194A R Interest from other than interest on securities u/s 193 and interest from banks/post office/co-operative society.

For e.g., interest from friends and relatives
5,000 10%
194B R, NR, FC Income from lottery winnings, card games, crossword puzzles, and other games of any type Aggregate income from lottery winnings, card games, crossword puzzles etc- 10,000

Online Gamine- Refer 194BA
30%
194BA R, NR, FC Income from online games Nil 30%
194BB R, NR, FC Income from horse race winnings 10,000
Aggregate winnings during a financial year not single transaction
30%
194C R Payment to contractor/sub-contractor:- Single transaction- 30,000

Aggregate transactions- 1,00,000
 
    a) Individuals/HUF   1%
    b) Other than Individuals/HU   2%
194D R Insurance commission to:    
    a) Domestic Companies 15,000 10%
    b) Other than companies 15,000 5%
194DA R Income for the insurance pay-out, while payment of any sum in respect of a life insurance policy. 1,00,000 5%
194E NR, FC Payment to non-resident sportsmen/sports association No limit
20%
*This rate shall be increased by applicable surcharge and 4% cess
194EE R, NR Payment of amount standing to the credit of a person under National Savings Scheme (NSS) 2,500 10%
194F R, NR Payment for the repurchase of the unit by Unit Trust of India (UTI) or a Mutual Fund No limit 20%
194G R, NR, FC Payments, commission, etc., on the sale of lottery tickets 15,000 5%
194H R Commission or brokerage 15,000 5%
194-I R Rent:    
    194-I(a) Rent on
plant and machinery
2,40,000 2%
    194-I(b) Rent on
land/building/furniture/fitting
2,40,000 10%
194-IA R Payment in consideration of transfer of certain immovable property other than agricultural land. 50,00,000 1%
194-IB R Rent payment by an individual or HUF not covered u/s. 194-I 50,000 per month 5%
194-IC R Payment under Joint Development Agreements (JDA) to Individual/HUF No limit 10
194J R Any sum paid by way of fee for professional services 30,000 10%
194J R Any sum paid by way of remuneration/fee/commission to a director 30,000 10%
194J R Any sum paid for not carrying out any activity concerning any business; 30,000 10%
194J R Any sum paid for not sharing any know-how, patent, copyright, etc. 30,000 10%
194J R Any sum paid as a fee for technical services 30,000 2%
194J R Any sum paid by way of royalty towards the sale or distribution, or exhibition of cinematographic films 30,000 2%
194J R Any sum paid as fees for technical services, but the payee is engaged in the business of operation of the call center. 30,000 2%
194K R Payment of any income for units of a mutual fund, for example, dividend No limit 10%
194LA R Payment in respect of compensation on acquiring certain immovable property 2,50,000 10%
194LB NR, FC Payment of interest on infrastructure debt fund to Non-Resident No limit
5%
*This rate shall be increased by applicable surcharge and 4% cess
194LC NR, FC Payment of interest for the loan borrowed in foreign currency by an Indian company or business trust against loan agreement or the issue of long-term bonds No limit 5%
194LC NR, FC Payment of interest for the loan borrowed in foreign currency by an Indian company or business trust against the issue of long-term bonds listed in IFSC No limit 4%
194LD NR, FC Payment of interest on bond (rupee-denominated) to FII or a QFI No limit 5%
194LBA(1) R Certain income distributed by a business trust to its unitholder No limit 10%
194LBA(2) NR, FC Interest income of a business trust from SPV distribution to its unitholders No limit 5%
194LBA(2) NR, FC Dividend income of a business trust from SPV, in which it holds the entire share capital exempt the capital held by the government, and distribution to its unitholders No limit 10%
194LBA(3) NR Rental income payment of assets owned by the business trust to the unitholders of such business trust No limit 30%
194LBA(3) FC Rental income payment of assets owned by the business trust to the unitholders of such business trust No limit 40%
194LBB R, NR Certain income paid to a unitholder in respect of units of an investment fund No limit 10%
194LBB FC Certain income paid to a unitholder in respect of units of an investment fund No limit 40%
194LBC R Income from investment in securitisation fund received to an individual and HUF No limit 25%
194LBC R Income from investment in securitisation fund received to a domestic company No limit 10%
194LBC FC Income from investment in securitisation fund received to a foreign company No limit 40%
194LBC NR Income from investment in securitisation fund received to NRI No limit 10%
194M R Certain payments by Individual/HUF not liable to deduct TDS under Section 194C, 194H, and 194J 50,00,000 5%
194N R, NR Cash withdrawal exceeding a certain amount Co-operative society: 3 Crore
Others: 1 crore
2%
194N R, NR Cash withdrawal in case person not filing ITR for last three years and the original ITR filing due date expired - 20 lakh to 1 crore

-1 crore



2%
5%
*If cash is withdrawn by a co-operative society the limit shall be Rs 3 Crore instead of Rs 1 Crore 
194O R Payment for the sale of goods or provision of services by the e-commerce operator through its digital or electronic facility or platform. 5,00,000 1%
5% in case PAN is not furnished
194P R Payment of pension or interest to specified senior citizens of age 75 years or more Basic exemption limit of senior citizens or super senior citizens Normal tax slab rates
194Q R Payments for the purchase of goods 50,00,000 0.10%
194R
(Refer notes)
R Perquisite or benefit to a business or profession 20,000 10%
194S
(Refer notes)
R TDS on the transfer of virtual digital assets Specified Persons- 50,000

Others- 10,000
1%
195 NR Income on investments made by NRI citizen No limit 20%
195 NR Income by way of LTCG referred to in section 115E in the case of NRI No limit 10%
195 NR, FC Income by way of LTCG under section 112(1)(c)(iii) No limit 10%
195 NR, FC Income by way of LTCG under section 112A No limit 10%
195 NR, FC Income by way of STCG under section 111A No limit 15%
195 NR, FC Any other income by way of LTCG No limit 20%
195 NR, FC Interest payable on money borrowed by the government or Indian concern in foreign currency No limit 20%
195 NR, FC Income from royalty payable by the Indian concern or the government, for the copyright in a subject referred in the first proviso of section 115A or computer software referred to in the second proviso of section 115A No limit 10%
195 NR Income from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy No limit 10%
195 FC Income from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy

If the agreement for such royalty payment is entered in between 31st March 1961 and 1st April 1976
No limit 50%
195 FC Income from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy

If the agreement for such royalty payment is entered after 31st March 1976
No limit 10%
195 NR Income from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy No limit 10%
195 FC Income from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy

If the agreement for such payment is entered in between 29th February 1964 and 1st April 1976
No limit 50%
195 FC Income from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy

If the agreement for such payment is entered after 31st March 1976
No limit 10%
195 NR Any other income No limit 30%
195 FC Any other income No limit 40%
196B NR, FC Income (including LTCG) from units of an offshore fund No limit 10%
196C NR, FC Income (including LTCG) from foreign currency bonds or GDR of an Indian company No limit 10%
196D NR, FC Income (excluding dividend and capital gain) from Foreign Institutional Investors. No limit 20%
206AB R Payment to non-filers, i.e. those who have not filed their income tax return in the last year

Budget 2023:
Non filers do not include:
- People who are not required to file their ITRs
- NRs who do not have a PE in India
No limit - 2 times the rate given in the Income Tax Act or Finance Act or
- 5%, whichever is higher
206AA R, NR, FC TDS rate in case of Non availability of PAN No limit Rates specified above or 20%, whichever is higher
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