TDS Rates Chart AY 2024-25 (FY 2023-24)

TDS Rates Chart AY 2024-25 (FY 2023-24): At the time of accrual or payment of certain incomes/payments to the payee, the payer deducts tax at the source at the prescribed rate. Taxes deducted/collected or paid as advance tax in the previous year are known as pre-paid taxes. Pre-paid taxes are deducted from the assessee’s total tax liability. Therefore, the payer is responsible for collecting tax and paying it to the government at the rate prescribed in the income tax act. The table below shows the TDS rates for Assessment Year 2024-25 or Financial Year 2023-24. The TDS rates will be applicable for payment/credit from 01-04-2023 to 31-03-2024.

Latest Updates of TDS Rates in Finance Bill 2023

  1. Section 192A – Employees will receive 20% post-tax deduction if PAN not provided.
  2. Section  193 – Deductibility of interest on listed securities in dematerialized form is proposed as of 1 April 2023, which was previously not permitted.
  3. Section  194BA – The government is introducing a new section of TDS for online gaming, requiring companies to deduct 30% tax from net winnings and deposit it with the government.
  4. Section 196A – Non-residents should submit a Tax Residency Certificate before the due date to take advantage of the lower rate.
  5. Section 194N – A co-operative society is now proposed to deduct taxes on cash withdrawals exceeding INR 3 crores instead of INR 1 crore from 1 April 2023.
  6. Section 194R – A clarification is proposed to clarify that tax is to be deducted whether the benefit or perquisite is in cash or in kind, or partly in cash and partly in kind.

TDS Rates Chart AY 2024-25

Note: Before computing TDS on any payment, please verify that the surcharge and education cess are applicable in the table below the TDS rates chart.

Deductee Denotes 

  • R as Resident
  • NR as Non-Resident (Individual/HUF/AOP/BOI/Artificial Judicial Person
  • NDC as Non-Domestic Company

The search option makes it very easy to find any TDS rate. If you want to search any section like 194D, type 194D in the search box or you can also search by nature of payment by typing “insurance”. This is a very helpful search option for finding TDS rates quickly.

SectionNature of PaymentTDS RateThreshold LimitDeductee
192SalaryAs per slabAs per slabR,NR
192APayment of taxable accumulated balance of provident fund10%50000R,NR
193Interest on securities10%Debentures - 5000
8% Saving Bonds - 10000
Others - Zero
R
194Dividend10%5000R
194AInterest other than interest on securities - Paid/payable by a bank/co-operative bank/post office to a senior citizen10%Sr. Citizen: 50000
Others: 40000
R
194AInterest other than interest on securities - Paid/payable by any other person10%5000R
194BWinnings from games such as lotteries, cards, crossword puzzles, and any other game30%10000R,NR,NDC
194BAOnline gaming income30%ZeroR,NR,NDC
194BB
Horse racing winnings income
30%10000R,NR,NDC
194CPayment to contractor/sub-contractor to Ind/HUF1%Single Transaction: 30000
Aggregate Transactions: 100000
R
194CPayment to contractor/sub-contractor to any person other than Ind/HUF2%Single Transaction: 30000
Aggregate Transactions: 100000
R
194DInsurance Commission to domestic company10%15000R
194DInsurance Commission to other than domestic company5%15000R
194DA Payments in connection with insurance pay-outs in respect of life insurance policy 5%100000R
194EPayment to a non-resident sportsman/entertainer or non-resident sports association20%ZeroNR,NDC
194EEPayment in respect of deposits under National Saving Scheme, 198710%2500R,NR
194FPayment for repurchase of units of MF or UTI20%ZeroR,NR
194GCommission on sale of lottery tickets5%15000R,NR,NDC
194HCommission or brokerage5%15000R
194IRent of plant and machinery2%240000R
194IRent of land or building or furniture or fitting10%240000R
194IATransfer of immovable property other than agricultural land in consideration of payment.1%50,00,000R
194IBRent paid/credited by an individual/HUF (if his total sales, turnover, or gross receipts do not exceed Rs. 1 crore in the case of business, or Rs. 50 lakh in the case of the profession in the previous year)5%50,000 p.mR
194ICPayment of consideration under joint development agreement to Individual/HUF10%ZeroR
194JFee for Professional Services10%30000R
194J A fee paid for technical services, but the payee operates the call center as a business.2%30000R
194JRoyalties paid for the sale, distribution, or exhibition of cinematographic films2%30000R
194JFees paid for technical services2%30000R
194JRemuneration/fees/commissions paid to directors10%30000R
194JAny sum referred to in section 28(va)10%30000R
194KAny income derived from mutual funds, such as dividends10%5000R
194LACompensation for acquiring certain immovable properties10%250000R
194LBPayment/credit by way of interest by infrastructure debt fund5%ZeroNR,NDC
194LBA(1)Business trusts distribute certain income to their unitholders10%ZeroR
194LBBA certain amount of income paid to an investment fund unitholder - Deductee - Resident10%ZeroR
194LBBA certain amount of income paid to an investment fund unitholder - Deductee - Non Resident30%ZeroNR
194LBBA certain amount of income paid to an investment fund unitholder - Deductee - Non Domestic Company40%ZeroNDC
194LBA(2)Income of a Business Trust [Section 10(23FC)(a)]5%ZeroNR,NDC
194LBA(2)Income of a Business Trust [Section 10(23FC)(b)] - It holds all the share capital, excluding the government's capital, and distributes it to its unitholders10%ZeroNR,NDC
194LBA(3)Payments of rental income to unitholders of those business trusts under Section 10(23FCA) - Deductee NR30%ZeroNR
194LBA(3)Payments of rental income to unitholders of those business trusts under Section 10(23FCA) - Deductee Non Domestic Company40%ZeroNDC
194LBC(1)Payment of an investment in a securitisation trust fund to Individual/HUF25%ZeroR
194LBC(1)Payment of an investment in a securitisation trust fund to any other person30%ZeroR
194LBC(2)Payment of an investment in a securitisation trust specified in clause (d) of the explanation occurring after section 115TCA - Deductee Non-Resident (Alerttax.in)30%ZeroNR
194LBC(2)Payment of an investment in a securitisation trust specified in clause (d) of the explanation occurring after section 115TCA - Deductee - Non-Domestic Company40%ZeroNDC
194LC Indian companies or business trusts pay or credit interest on - Foreign currency approved loan/long-term bonds from outside India5%ZeroNR,NDC
194LCIndian companies or business trusts pay or credit interest on -Long-term bond/rupee-denominated bond listed on a a recognized stock exchange located in any international financial services center. 4%ZeroNR,NDC
194LCIndian companies or business trusts pay or credit interest on - Long-term bond/rupee-denominated bond issued on or after July 1, 2023, which is listed only on recognized stock exchange located in an international Financial Services Centre9%ZeroNR,NDC
194LDInterest on a rupee denominated bond of an Indian company or Govt security5%ZeroNR,NDC
194MIn certain cases, individuals and HUFs do not have to deduct tax under Section 194C, 194H, and 194J5%50,00,000R
194NCash withdrawal exceeding a certain amount to co-operative society2%3 CroreR,NR,NDC
194NCash withdrawal exceeding a certain amount to other than co-operative society2%1 CroreR,NR,NDC
194NWithdrawal of cash in cases where a person has not filed an ITR for the past three years and the original filing due date has expired (payment from 20 lakh to 1 crore)2%20 Lakh to 1 CroreR,NR,NDC
194NWithdrawal of cash in cases where a person has not filed an ITR for the past three years and the original filing due date has expired (payment over 1 crore)5%1 CroreR,NR,NDC
194OPayment by e-commerce operator to e-commerce participants to individual/HUF1%500000
R
194OPayment by e-commerce operator to e-commerce participants to other than individual/HUF1%ZeroR
194PPension or interest payments to senior citizens over 75Tax SlabBasic Exemption Limit as per slabR
194QPayments for goods purchased0.10%50,00,000R
194RPerquisite or benefit to a business or profession10%20000R
194SConsideration for the transfer of virtual digital assets by a specified person1%50000R
194SConsideration for the transfer of virtual digital assets by other than specified person1%10000R
195Payment of any other sum to a Non-resident
a) Income of foreign exchange assets payable to an Indian citizen
20%ZeroNR
195
b) Income by way of long-term capital gains referred to in Section 115E in case of a Non-resident Indian Citizen10%ZeroNR,NDC
195c) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-Section (1) of Section 112 - exceeding Rs. 1 Lakh (site:Alerttax.in)10%ZeroNR,NDC
195d) Income by way of short-term capital gains referred to in Section 111A15%ZeroNR,NDC
195e) Any other income by way of long-term capital gains [not being long-term capital gains referred to in clauses 10(33), 10(36) and 112A20%ZeroNR,NDC
195f) Income by way of dividend from a unit in International Financial Service Centre10%ZeroNR,NDC
195g) Income by way of dividend (other than above)20%ZeroNR,NDC
195h) Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC)20%ZeroNR,NDC
195i) Royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of Section 115A20%ZeroNR,NDC
195j) Income by way of royalty [not being royalty of the nature referred to point i)20%ZeroNR,NDC
195j) Income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it 20%ZeroNR,NDC
195k) Any other income to Non-Resident30%ZeroNR
195k) Any other income to Non-Domestic Company40%ZeroNDC
196AIncome of units of non-resident/foreign company20%ZeroNR,NDC
196BAn offshore fund's income (including LTCG)10%ZeroNR,NDC
196CIncome (including LTCG) from foreign currency bonds or GDRs issued by Indian companies10%ZeroNR,NDC
196D(1)Foreign institutional investors are paid or credited with income from securities (but not dividends, short-term capital gains, or long-term capital gains). 20%ZeroNR,NDC
196D(1A)Interest from securities paid or credited to a specified fund (section 10(4D).10%ZeroNR,NDC
NotesSection 206AA: If PAN of the deductee is not intimated to the deductor, tax will be deducted at source by virtue of section 206AA either at the rate given in the table or at the rate of 20 per cent, whichever is higher. Exception - If the recipient does not furnish PAN, tax is deductible under section 194-O or 194Q at the rate of 5 percent and not at the rate of 20 percent.
NotesSection 206AB: In addition, non-filers of income tax returns are entitled to deduct the tax under any provision of the Income Tax Act (other than sections 192, 192A, 194B, 194BB, 194IA and 194IB, 194LBC, 194M, and 194N) at twice the rate set forth in the table or at 5 percent, whichever is greater.

TDS Calculator AY 2024-25

Surcharge and HEC on TDS AY 2024-25 (FY 2023-24)

How to Calculate TDS = (TDS Rate + Surcharge + HEC)

If deductee is Non Resident (Individual/HUF/AOP/BOI/Artificial Juridicial Person)
Payment LimitSurchargeHEC
Rs.0 to Rs. 50 Lakh-4%
Rs.50 Lakh to Rs.1 Crore10%4%
Rs.1 Crore to Rs. 2 Crore15%4%
Rs.2 Crore to Rs. 5 Crore25%4%
Above Rs.5 Crore37%4%
If deductee is Non Resident Co-operative Society/Firm
Rs.0 to Rs.1 Crore-4%
Above Rs.1 Crore12%4%
If deductee is Domestic Company
Rs.0 to Rs.1 Crore-4%
Rs.1 Crore to Rs.10 Crore2%4%
Above Rs.10 Crore5%4%

TDS Calculator AY 2024-25

TCS Rates AY 2024-25

Very Important Notes (AY 2022-23)

Note 1: The tax shall be deducted by an individual and HUF under these provisions if his total sales, gross receipts or turnover exceed Rs. 1 crore in case of business or Rs. 50 lakhs in case of the profession during the financial year immediately preceding the financial year in which sum is credited or paid.

Note 2 : Rounding off TDS: The amount of tax to be deducted shall be rounded off to the nearest multiple of Rs. 10. For this purpose, any part of a rupee, consisting of Paisa is ignored. Thereafter, if such amount is not a multiple of Rs. 10, and the last figure in that amount is five or more, it is increased to next higher amount which is a multiple of Rs. 10 and if last figure is less than five, the amount is reduced to the next lower amount which is a multiple of ten.

Note 3: Requirement to furnish PAN or Aadhaar: Where any person is entitled to receive any income or any other sum on which tax is deductible at source, he is required to provide his Permanent Account Number (PAN) or Aadhaar to the person responsible for deduction of tax, i.e., Deductor. In case the PAN or Aadhaar is not furnished, by virtue of Section 206AA the tax shall be deducted at higher rates.

Note 4: Requirement to furnish Return of income: Where any person, who is entitled to receive any income (or sum or amount) on which tax is deductible at source, fails to furnish his return of income for the specified period and tax deducted/collected during that period exceeds specified limit, the tax shall be deducted under Section 206AB at a higher rates.

TDS Rates Chart (F.Y.2021-22 A.Y.2022-23) (Resident Indian) (Other Than a Company)

This TDS rates chart applicable for financial year from 01-04-2021 to 31-03-2022 and for Assessment Year 2022-23. These TDS rates applicable to resident of Indian (other than a company). To know more about TDS rates applicable on other assessee please scroll down.

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TDS Rates Chart (F.Y.2021-22 A.Y.2022-23) (Non Resident Indian) (Other Than a Company)

This TDS rates chart applicable for financial year from 01-04-2021 to 31-03-2022 and for Assessment Year 2022-23. These TDS rates applicable to Non-Resident of Indian (other than a company). To know more about TDS rates applicable on other assessee please scroll down.

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TDS Rates Chart (F.Y.2021-22 A.Y.2022-23) (Domestic Company)

This TDS rates chart applicable for financial year from 01-04-2021 to 31-03-2022 and for Assessment Year 2022-23. These TDS rates applicable to Domestic Company. To know more about TDS rates applicable on other assessee please scroll down.

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TDS Rates Chart (F.Y.2021-22 A.Y.2022-23) (Not a Domestic company)

This TDS rates chart applicable for financial year from 01-04-2021 to 31-03-2022 and for Assessment Year 2022-23. These TDS rates applicable to Not a Domestic Company. To know more about TDS rates applicable on other assessee please scroll down.

[table “127” not found /]

Surcharge and Health & Education Cess

(a) In case payment is made to a person, being a resident in India, rate of TDS prescribed above shall not be increased by the surcharge and education cess.

(b) In case payment is made to a person, being a non-resident, rate of TDS prescribed above shall be further increased by the surcharge and education cess.

Type of assessee Income Surcharge (as a % of the TDS rate) Health and Education Cess (as a % of TDS rate plus surcharge)
Foreign company Up to Rs. 1 crore Nil 4%
More than Rs. 1 crore but up to Rs. 10 crores 2% 4%
More than Rs. 10 crores 5% 4%
Domestic company opting for section 115BAA or 115BAB Any income 10% 4%
Any other Domestic company Up to Rs. 1 crore Nil 4%
More than Rs. 1 crore but up to Rs. 10 crores 7% 4%
More than Rs. 10 crores 12% 4%
Co-operative society opting for section 115BAD Any income 10% 4%
Any other co-operative Society/Firm/LLP/Local Authority Up to Rs. 1 crore Nil 4%
More than Rs. 1 crores 12% 4%
Others Up to Rs. 50 lakhs (including dividend income and income referred to in Section 111A and Section 112A) Nil 4%
More than Rs. 50 lakhs but up to Rs. 1 crore (including dividend income and income referred to in section 111A and section 112A) 10% 4%
More than Rs. 1 crore but upto Rs. 2 crores (including dividend income and income referred to in section 111A and section 112A) 15% 4%
More than Rs. 2 crores but up to Rs. 5 crores (excluding dividend income and income referred to in section 111A and section 112A) 25% 4%
More than Rs. 5 crores (excluding dividend income and income referred to in section 111A and section 112A) 37% 4%
More than Rs. 2 crores (including dividend income and income referred to in section 111A and section 112A) 15% 4%

Categories TDS

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