TDS RATES AY – 2024-25
TDS RATE w.e.f. FY 2023-24 |
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| Section | Nature of Payment | Threshold Limit of Payment | Rate | |||
|---|---|---|---|---|---|---|
| 192 | Income from Salary |
Senior Citizen (60 Years) |
Rs. 3,00,000 |
Average rate of Tax + Education Cess (Surcharge if Salary > 50 Lacs) | ||
Super Senior Citizen (80 Years) |
Rs. 5,00,000 | |||||
| Others | Rs. 2,50,000 | |||||
| 192A | Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%) |
Rs. 50,000 |
10% | |||
| 193 | Interest on Securities |
Rs. 5,000 (On debentures) Rs. 10,000 (On others) |
10% | |||
| 194 | Dividend (including dividends on preference shares) |
Rs. 5000 | 10% | |||
| 194A | Interest other than Interest on Securities (other than u/s 193 and Banks/post office/co-operative society) |
Rs. 5,000 per annum | 10% | |||
| 194A | Interest other than Interest on Securities (from deposits with banks/post office/ co-operative society) |
Senior Citizens – Rs. 50,000 Others – Rs. 40,000 |
10% | |||
| 194B | Winning from Lotteries && Cross Word Puzzles |
Rs. 10,000 per annum | 30% | |||
| 194BA | Winnings from Online Gaming |
- | 30% | |||
| 194BB | Winnings from horse race |
Rs. 10000 | 30% | |||
| 194C | Transporters not covered under 44AE |
Rs. 30,000/75,000 | Individual 1% Company 2% |
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| 194C | Payment to Contractors; Sub-contractor; Advertising Contractors (including other transporters) | Rs.30,000 per contract (or) Rs. 1,00,000 per annum |
Individual/HUF 1% Others 2% | |||
| 194D | Insurance Commision | Rs. 15,000 |
Individual/HUF - 5% Others - 10% |
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| 194DA | Payment under life insurance policy (including Bonus) |
Rs.1,00,000 | 5% | |||
| 194E | Non-resident Sportman or Sports Association |
- |
20% | |||
| 194EE | Out of deposit under NSS |
Rs.2,500 |
|
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| 194F | Payment for the repurchase of the unit, by Unit Trust of India (UTI) or a Mutual Fund |
- | 20% | |||
| 194G | Commission on Sale of Lottery Tickets |
Rs. 15,000 |
5% | |||
| 194H | Commission/Brokerage | Rs. 15,000 per annum |
5% | |||
| 194-I | Rent on Plant / Machinery | Rs. 2,40,000 per annum | 2% | |||
| 194-I | **Land or building or furniture or fitting |
Rs. 2,40,000 per annum | 10% | |||
| 194-IA | Payment or transfer of Non -agricultural immovable property | Rs. 50,00,000 & above | 1% | |||
| 194-IB | Rent payable by an individual or HUF not covered u/s. 194I | Rs.50,000 per month | 5% | |||
| 194-IC | Payment under Joint Development Agreements (JDA) to Individual/HUF | - | 10% | |||
| 194J | Fees for Professional / Technical Services | Rs. 30,000 per annum |
|
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| 194K |
Income from units of Mutual Funds | Rs. 5,000 |
10% | |||
| 194LA |
Compulsory Acquisition of immovable Property | Rs. 2,50,000 |
10% | |||
| 194LBA |
Income from units of a Business Trust | - |
10% | |||
| 194LBB |
Income in respect of units of Investment Fund | - |
10% | |||
| 194LBC |
Income in respect of units of Investment Fund | - |
Individual/HUF 25% Others 30% |
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| 194M |
Payments to Resident Contractors and Professional | Rs. 50,00,000 | 5% | |||
| 194N |
Sum or aggregate of sum withdrawn in cash by a person in a particular FY exceeds: | • ₹ 20 lakh (if no ITR has been filed for all the three previous AYs), or • ₹ 1 crore (if ITRs have been filed for all or any one of three previous AYs). |
• 2% on cash withdrawals in excess of ₹ 1 crore if the person has filed income tax return for any or all three previous AYs. | |||
| • 2% on cash withdrawals of more than ₹ 20 lakh and 5% for withdrawals exceeding ₹ 1 crore if the person has not filed ITR for any of the preceding three AYs. | ||||||
| 194O |
e Commerce operator is required to deduct TDS for the sale of goods or services through an e-Commerce participant. | Rs 5,00,000 | 1% | |||
| 194P |
Exemption for senior citizens above 75 years of age from filing the income tax return | - | Rates in force | |||
| 194Q |
TDS on Purchase of Goods exceeding Rs. 50 Lakhs (Applicable From 01-July-2021) | Rs. 50,00,000 | 0.1% | |||
| 194R |
Deduction of tax on benefit or perquisite received in business or profession in a year | Rs. 20,000 | 10% | |||
| 194S |
Payment on transfer of Virtual Digital Asset in a financial year | • Rs. 10,000 when payable by any person Rs. 50,000 when payable by any specified person |
1% | |||
TCS RATES w.e.f. FY – 2023-24 |
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| SECTION | PARTICULARS | THRESHOLD | RATE | |||
| 206C | Scrap |
- |
1.00% | |||
| 206C | Tendu Leaves |
- |
5.00% | |||
| 206C | Timber obtained under a forest lease or other mode |
- |
2.50% | |||
| 206C | Any other forest produces not being a Timber or tendu leave |
- |
2.50% | |||
| 206C | Alcoholic Liquor for Human Consumption |
- |
1.00% | |||
| 206C | Packing lot, toll plaza, mining & quarrying |
- |
2.00% | |||
| 206C | Purchase of coal lignite, Iron ore by a trader | - | 1.00% | |||
| 206C | Sale Value of Motor vehicle whether in cheque or in any other mode of receipt | Exceeding Rs. 10 Lakhs per transaction | 1.00% | |||
| 206C(1G) | Foreign remittance through Liberalised Remittance Scheme (LRS), if the remitted amount is out of loan obtained from any financial institution u/s 80E to pursue any education | Exceeding Rs. 7 Lakh in a financial year | 0.5% | |||
| 206C(1G) | Foreign remittance through Liberalised Remittance Scheme (LRS) in any other case | Exceeding Rs. 7 Lakh | 5% | |||
| 206C(1G) | Selling of overseas tour package | - | 5% | |||
| 206C(1H) | Sale of goods (Other than those being exported) where total Sale/ gross receipts/turnover from business exceeds Rs 10 Crore | Exceeding Rs. 50 Lakh | 0.1% | |||
| during immediately financial year | ||||||