Hello Guys,
Almost everyone knows about TDS (Tax Deduction at Source), but the only problem is that you have to search correct TDS rate for correct payment with percentages. We will discuss for New TDS Rates Chart for FY 2022-23 (AY 2023-24). If you are looking for latest new TDS rate chart, you are at proper place. Here is the latest TDS rates chart.
TDS (Tax Deduction at Source) rate chart
Remember, that you should deduct TDS when you pay or credit the amount whichever is earlier, i.e. when you pay advance, you should deduct TDS. And when party is issuing bill and you are crediting the amount you should deduct TDS. Generally, TDS should be paid before 7th day of month ended.
| Section | Nature of transaction | TDS Rate | Threshold Limit (Rs) | Who Should Deduct |
| 192 | Payment of salary | Normal Slab Rates | Basic exemption limit of employee | Resident and Non Resident |
| 192A | Premature withdrawal from EPF | 10% | 50,000 | Resident and Non Resident |
| 193 | Interest on securities | 10% | Debentures- 5,000 8% Savings (Taxable) Bonds 2003 or 7.75% Savings (Taxable) Bonds 2018- 10,000 Other securities- No limit | Resident |
| 194 | Payment of any dividend | 10% | 5,000 | Resident |
| 194A | Interest from other than interest from securities (from deposits with banks/post office/co-operative society) | 10% | Senior Citizens- 50,000 Others- 40,000 | Resident |
| 194A | 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 | 10% | 5,000 | Resident |
| 194B | Income from lottery winnings, card games, crossword puzzles, and other games of any type | 30% | 10,000 | Resident, Non Resident and Foreign Company |
| 194BB | Income from horse race winnings | 30% | 10,000 | Resident, Non Resident and Foreign Company |
| 194C | Payment to contractor/sub-contractor:- Individuals/HUF | 1% | Single transaction- 30,000 Aggregate transactions- 1,00,000 | Resident |
| 194C | Payment to contractor/sub-contractor:- Other than Individuals/HUF | 2% | Single transaction- 30,000 Aggregate transactions- 1,00,000 | Resident |
| 194D | Insurance commission to domestic companies | 10% | 15,000 | Resident |
| 194D | Insurance commission to other than companies | 5% | 15,000 | Resident |
| 194DA | Income for the insurance pay-out, while payment of any sum in respect of a life insurance policy. | 5% | 1,00,000 | Resident |
| 194E | Payment to non-resident sportsmen/sports association | 20% | 0 (Zero) | Non Resident and Foreign Company |
| 194EE | Payment of amount standing to the credit of a person under National Savings Scheme (NSS) | 10% | 2,500 | Resident and Non Resident |
| 194F | Payment for the repurchase of the unit by Unit Trust of India (UTI) or a Mutual Fund | 20% | 0 (Zero) | Resident and Non Resident |
| 194G | Payments, commission, etc., on the sale of lottery tickets | 5% | 15,000 | Resident, Non Resident and Foreign Company |
| 194H | Commission or brokerage | 5% | 15,000 | Resident |
| 194-I | Rent on plant and machinery | 2% | 2,40,000 | Resident |
| 194-I | Rent on land/building/furniture/fitting | 10% | 2,40,000 | Resident |
| 194-IA | Payment in consideration of transfer of certain immovable property other than agricultural land. | 1% | 50,00,000 | Resident |
| 194-IB | Rent payment by an individual or HUF not covered u/s. 194-I | 5% | 50,000 per month | Resident |
| 194-IC | Payment under Joint Development Agreements (JDA) to Individual/HUF | 10% | 0 (Zero) | Resident |
| 194J | Any sum paid by way of fee for professional services | 10% | 30,000 | Resident |
| 194J | Any sum paid by way of remuneration/fee/commission to a director | 10% | 30,000 | Resident |
| 194J | Any sum paid for not carrying out any activity concerning any business; | 10% | 30,000 | Resident |
| 194J | Any sum paid for not sharing any know-how, patent, copyright, etc. | 10% | 30,000 | Resident |
| 194J | Any sum paid as a fee for technical services | 2% | 30,000 | Resident |
| 194J | Any sum paid by way of royalty towards the sale or distribution, or exhibition of cinematographic films | 2% | 30,000 | Resident |
| 194J | Any sum paid as fees for technical services, but the payee is engaged in the business of operation of the call center. | 2% | 30,000 | Resident |
| 194K | Payment of any income for units of a mutual fund, for example, dividend | 10% | 0 (Zero) | Resident |
| 194LA | Payment in respect of compensation on acquiring certain immovable property | 10% | 2,50,000 | Resident |
| 194LB | Payment of interest on infrastructure debt fund to Non-Resident | 5% | 0 (Zero) | Non Resident and Foreign Company |
| 194LC | 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 | 5% | 0 (Zero) | Non Resident and Foreign Company |
| 194LC | 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 | 4% | 0 (Zero) | Non Resident and Foreign Company |
| 194LD | Payment of interest on bond (rupee-denominated) to FII or a QFI | 5% | 0 (Zero) | Non Resident and Foreign Company |
| 194LBA(1) | Certain income distributed by a business trust to its unitholder | 10% | 0 (Zero) | Resident |
| 194LBA(2) | Interest income of a business trust from SPV distribution to its unitholders | 5% | 0 (Zero) | Non Resident and Foreign Company |
| 194LBA(2) | 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 | 10% | 0 (Zero) | Non Resident and Foreign Company |
| 194LBA(3) | Rental income payment of assets owned by the business trust to the unitholders of such business trust | 30% | 0 (Zero) | Non Resident |
| 194LBA(3) | Rental income payment of assets owned by the business trust to the unitholders of such business trust | 40% | 0 (Zero) | Foreign Company |
| 194LBB | Certain income paid to a unitholder in respect of units of an investment fund | 10% | 0 (Zero) | Resident and Non Resident |
| 194LBB | Certain income paid to a unitholder in respect of units of an investment fund | 40% | 0 (Zero) | Foreign Company |
| 194LBC | Income from investment in securitisation fund received to an individual and HUF | 25% | 0 (Zero) | Resident |
| 194LBC | Income from investment in securitisation fund received to a domestic company | 10% | 0 (Zero) | Resident |
| 194LBC | Income from investment in securitisation fund received to a foreign company | 40% | 0 (Zero) | Foreign Company |
| 194LBC | Income from investment in securitisation fund received to NRI | 10% | 0 (Zero) | Non Resident |
| 194M | Certain payments by Individual/HUF not liable to deduct TDS under Section 194C, 194H, and 194J | 5% | 50,00,000 | Resident |
| 194N | Cash withdrawal exceeding a certain amount | 2% | 1 crore | Resident and Non Resident |
| 194N | Cash withdrawal in case person not filing ITR for last three years and the original ITR filing due date expired | 2% 5% | -20 lakh to 1 crore -1 crore | Resident and Non Resident |
| 194O | Payment for the sale of goods or provision of services by the e-commerce operator through its digital or electronic facility or platform. | 1% | 5,00,000 | Resident |
| 194P | Payment of pension or interest to specified senior citizens of age 75 years or more | Normal tax slab rates | Basic exemption limit of senior citizens or super senior citizens | Resident |
| 194Q | Payments for the purchase of goods | 0.10% | 50,00,000 | Resident |
| 194R | Perquisite or benefit to a business or profession | 10% | 20,000 | Resident |
| 194S | TDS on the transfer of virtual digital assets | 1% | Specified Persons- 50,000 Others- 10,000 | Resident |
| 195 | Income on investments made by NRI citizen | 20% | 0 (Zero) | Non Resident |
| 195 | Income by way of LTCG referred to in section 115E in the case of NRI | 10% | 0 (Zero) | Non Resident |
| 195 | Income by way of LTCG under section 112(1)(c)(iii) | 10% | 0 (Zero) | Non Resident and Foreign Company |
| 195 | Income by way of LTCG under section 112A | 10% | 0 (Zero) | Non Resident and Foreign Company |
| 195 | Income by way of STCG under section 111A | 15% | 0 (Zero) | Non Resident and Foreign Company |
| 195 | Any other income by way of LTCG | 20% | 0 (Zero) | Non Resident and Foreign Company |
| 195 | Interest payable on money borrowed by the government or Indian concern in foreign currency | 20% | 0 (Zero) | Non Resident and Foreign Company |
| 195 | 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 | 10% | 0 (Zero) | Non Resident and Foreign Company |
| 195 | Income from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy | 10% | 0 (Zero) | Non Resident |
| 195 | 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 | 50% | 0 (Zero) | Foreign Company |
| 195 | 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 | 10% | 0 (Zero) | Foreign Company |
| 195 | Income from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy | 10% | 0 (Zero) | Non Resident |
| 195 | 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 | 50% | 0 (Zero) | Foreign Company |
| 195 | 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 | 10% | 0 (Zero) | Foreign Company |
| 195 | Any other income | 30% | 0 (Zero) | Non Resident |
| 195 | Any other income | 40% | 0 (Zero) | Foreign Company |
| 196B | Income (including LTCG) from units of an offshore fund | 10% | 0 (Zero) | Non Resident and Foreign Company |
| 196C | Income (including LTCG) from foreign currency bonds or GDR of an Indian company | 10% | 0 (Zero) | Non Resident and Foreign Company |
| 196D | Income (excluding dividend and capital gain) from Foreign Institutional Investors. | 20% | 0 (Zero) | Non Resident and Foreign Company |
Conclusion:
Thus, we have seen that the latest chart. From which you can easily find how much is the Threshold Limit not to deduct TDS, who is liable to deduct TDS, how much rate of TDS. Hope this article is helpful to you.
Also read: Income Tax Slab for new tax regime and old tax regime
Also read: INCOME TAX CALCULATOR ABOVE 50 LAKHS