TDS Rate Chart for Financial Year 2022-23 (Assessment Year 2023-24)

Below you’ll find the TDS rate Chart for FY 2022-23, 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:  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/-	5 %
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 %
194F	Payment on account of Repurchase of Unit by Mutual Fund or Unit Trust of India		20 %
194G	Commission on Sale of Lottery Tickets	15,000/-	5 %
194H	Commission or Brokerage	15,000/-	5 %
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	5 %
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/-	5 %
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/-	1 %
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.

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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).

Sources

CHAPTER XVII – Collection and recovery of tax in incometaxindia.gov.in

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