Below you’ll find the TDS rate Chart for FY 2024-25, which summarises all the TDS provisions of the Income Tax Act, 1961.
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| Section | Nature of Payment | Threshold Limit | TDS Rate | Guidance/ References |
|---|---|---|---|---|
| 192 | Salary (Includes Pension) | Taxable Income liable to Tax | As Per Normal Slab Rate (or) New Tax Regime Slab Rate, Whichever is opted by Employee | Refer Normal Slab Rate or New Tax Regime Slab Rate |
| 192A | Payment of accumulated balance of Provident Fund which is taxable in the hands of an employee | 50,000/- | 10 % | |
| 193 | Interest on Securities | 5,000/- | 10 % | |
| 194 | Dividend | 5,000/- | 10 % | |
| 194A | Interest on Bank Deposit/Post Office Deposit/Banking Co-Society Deposit (Interest other than “Interest on securities”): | |||
| 194A | a) Senior Citizen | 50,000/- | 10 % | |
| 194A | b) Others | 40,000/- | 10 % | |
| 194A | Interest other than “Interest on Securities” (Other Than Bank Deposit/Post Office Deposit/Banking Co-Society Deposit) | 5,000/- | 10 % | |
| 194B | Winnings from Lotteries, Crossword Puzzles etc. | 10,000/- | 30 % | |
| 194BB | Winnings from Horse Races | 10,000/- | 30 % | |
| 194C | Payment to Contractor/Sub-Contractor: | Single Transaction: 30,000/- & Aggregate of Transactions:Â 1,00,000/- | ||
| 194C | a) HUF/Individuals | 1 % | ||
| 194C | b) Others | 2 % | ||
| 194D | Insurance Commission | 15,000/- | 10 % | |
| 194DA | Payment in respect of Life Insurance Policy, the tax shall be deducted on the amount of income comprised in insurance pay-out | 1,00,000/- | 2 % | |
| 194E | Payment to Non-Resident Sports Person/Sports Association/Entertainer | 20 % | The rate of TDS shall be increased by applicable Surcharge and Health & Education Cess. | |
| 194EE | Payment in respect of Deposit under National Savings Scheme | 2,500/- | 10 % | |
| 194G | Commission on Sale of Lottery Tickets | 15,000/- | 2 % | |
| 194H | Commission or Brokerage | 15,000/- | 2 % | |
| 194-I | Rent: | |||
| 194-I | 194-I(a) Plant & Machinery | 2,40,000/- | 2 % | |
| 194-I | 194-I(b) Land, Building, Furniture | 2,40,000/- | 10 % | |
| 194-IA | Payment on Transfer of Immovable Property (other than Rural Agricultural Land) | 50,00,000/- | 1 % | |
| 194-IB | Payment of Rent by Individual or HUF not liable to Tax Audit/TAN | 50,000/- per Month | 2 % | |
| 194-IC | Payment of Monetary Consideration under Joint Development Agreements | 10 % | ||
| 194J | Fees for Professional or Technical Services, Remuneration to Directors, Royalty, Non-compete Fees: | |||
| 194J | i) Fees for Technical Services | 30,000/- | 2 % | |
| 194J | ii) Royalty for Consideration for Sale, Distribution or Exhibition of Cinematographic Films; | 30,000/- | 2 % | |
| 194J | ii) Any Call Centre | 30,000/- | 2 % | |
| 194J | iv) Any Other | 30,000/- | 10 % | |
| 194K | Income in respect of Units payable to Resident Person | 5,000/- | 10 % | |
| 194LA | Payment of Compensation on Acquisition of certain Immovable Property | 2,50,000/- | 10 % | |
| 194LB | Payment of Interest on Infrastructure Debt Fund to Non-Resident | 5 % | The rate of TDS shall be increased by applicable Surcharge and Health & Education Cess. | |
| 194LBA(1) | Business trust shall deduct tax while distributing, any interest received or receivable by it from a SPV or any income received from renting or leasing or letting out any real estate asset owned directly by it, to its unit holders. | 10 % | ||
| 194LBB | Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)] | 10 % | ||
| 194LBC | Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA): | |||
| 194LBC | a) HUF/Individuals | 25 % | ||
| 194LBC | b) Others | 30 % | ||
| 194LC | Interest on Money Borrowed in Foreign Currency under Loan agreement or issue of Long Term Bonds or Rupee Denominated Bond up to 30.06.2023 | 5 % (4 % if Listed in IFSC) | The rate of TDS shall be increased by applicable Surcharge and Health & Education Cess. | |
| 194LD | Interest on Rupee Denominated Bond of Indian Company or Government Securities or Municipal Debt Securities | 5 % | The rate of TDS shall be increased by applicable Surcharge and Health & Education Cess. | |
| 194M | Payment of commission (not being insurance commission), brokerage, contractual fee, professional fee to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J. | 50,00,000/- | 2 % | |
| 194N | Cash Withdrawal from Bank, Co-operative Society engaged in business of Banking, Post Office: | |||
| 194N | i) in excess of Rs. 1 crore | 1,00,00,000/- | 2 % | |
| 194N | ii) in excess of Rs. 20 lakhs (for those persons who have not filed Income Tax Return (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired.) The deduction of tax under this situation: | |||
| 194N | a) On amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year; | 20,00,000/- | 2 % | |
| 194N | b) On amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year; | 1,00,00,000/- | 5 % | |
| 194O | E-Commerce Operator to E-Commerce Participant (Sale of Goods or Services) | 5,00,000/- | 0.10 % | |
| 194P | TDS by Bank in case of Senior Citizen (Age: 75 Years or More) | Taxable Income liable to Tax | Slab Rate | Only If Income From Pension and Interest |
| 194Q | Purchase of Goods | 50,00,000/- | 0.10 % | |
| 194R | TDS on benefit or perquisite of a business or profession | 20,000/- | 10 % | |
| 194S | TDS on payment for Virtual Digital Assets | “Specified Person” Payer– 50,000/- Other Payers – 10,000/- | 1 % | |
| 195 | Payment of any other sum to a Non-resident | The rate of TDS shall be increased by applicable Surcharge and Health & Education Cess. | ||
| 195 | a) Income in respect of investment made by a Non-resident Indian Citizen | 20 % | ||
| 195 | b) Income by way of long-term capital gains referred to in Section 115E in case of a Non-resident Indian Citizen | 10 % | ||
| 195 | c) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-Section (1) of Section 112 | 10 % | ||
| 195 | d) Income by way of long-term capital gains as referred to in Section 112A | 10 % | ||
| 195 | e) Income by way of short-term capital gains referred to in Section 111A | 15 % | ||
| 195 | f) 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 112A | 20 % | ||
| 195 | g) 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 % | ||
| 195 | h) Any other Income | 30 % | ||
| 196A | Income in respect of Units for Non Resident or Foreign Company | 20 % | The rate of TDS shall be increased by applicable Surcharge and Health & Education Cess. | |
| 196B | LTCG u/s 115AB (Offshore Fund) | 10 % | The rate of TDS shall be increased by applicable Surcharge and Health & Education Cess. | |
| 196C | Interest or Dividend on Bonds/GDR u/s 115AC (Non Resident) | 10 % | The rate of TDS shall be increased by applicable Surcharge and Health & Education Cess. | |
| 196D | Interest or Dividend u/s 115AD (Non Resident) | 20 % (FII) 10 % (Specified Fund) | The rate of TDS shall be increased by applicable Surcharge and Health & Education Cess. |
TDS Full Form is “Tax Deducted at Source“
Tax deduction at source (TDS) means payer to collect income tax due on such income while crediting/paying to the payee and deposit the same to the government’s Bank Account on payee’s behalf. TDS payment done in ITNS 281 at Income Tax Portal or NSDL Protean (Depends on Payment Bank).
Which Assessees required to deduct TDS (Tax Deducted at Source)?
All Assessees but for individuals & HUF will be liable to deduct TDS if the revenue exceeds Rs. 1 Crore in the case of Business and Rs. 50 Lakhs in the case of the profession in the previous year.
TAN is Required for TDS Deductions?
Yes, TAN is reqired for TDS Deduction except TDS Liablities in Section 194-IA, 194-IB, 194M.
Sources
CHAPTER XVII – Collection and recovery of tax in incometaxindia.gov.in
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