TDS Rate Chart for FY 2022-23: New rates of Tax Deducted at source (TDS) under Income Tax Act, 1961 and many new TDS section are announced. Self assessment tax is paid after the end of financial year, while advance tax is paid during the financial year. TDS is deducted when income is accrued or received by the assesse and adjusted with the income tax liability at the time of filing the Income Tax Return.
TDS Rate Chart for FY 2022-23
| Section | For Payment of | Threshold limit | TDS Rate % |
|---|---|---|---|
| 192 | Salary Income | Rs 2,50,000 | Slab rates |
| 192 A | EPF – Premature withdrawal | Rs 50,000 | 10% |
| 193 | Interest on Govt Securities | Rs. 10,000 | 10% |
| 194 | Dividend | Rs 5,000 | 10% |
| 194 A | Interest by banks / post office other than on securities | Rs. 40,000 (Rs 50,000 for Senior Citzens) | 10% |
| 194 A | Interest by others other than on securities | Rs. 5,000 | 10% |
| 194 B | Winnings from Lotteries / Puzzle / Game | Rs. 10,000 | 30% |
| 194 BB | Winnings from Horse Race | Rs. 10,000 | 30% |
| 194C | Contract | Rs 30,000 (Single Transaction) Rs 1,00,000 (Aggregate of Transactions) | 1% (Individuals/HUF) 2% (Others) |
| 194 D | Payment of Insurance Commission | Rs. 15,000 | 5% (10% in case of domestic companies) |
| 194DA | Maturity of Life Insurance Policy | Rs 1,00,000 | 5% |
| 194E | Payment to non-resident sportsmen/sports association | Rs 0 | 20% + Cess |
| 194 G | Commission on Sale of Lottery tickets | Rs 15,000 | 5% |
| 194 H | Commission or Brokerage | Rs 15,000 | 5% |
| 194 I | Rent of Land, Building or Furniture | Rs. 2,40,000 | 10% |
| 194 I | Rent of Plant & Machinery | Rs. 2,40,000 | 2% |
| 194 IA | Transfer of Immovable Property , other than Agricultural land | Rs. 50 lakh | 1% |
| 194 IB | Other Rent | Rs 50,000 (per month) | 5% |
| 194IC | Payment of monetary consideration under Joint Development Agreements | Rs 0 | 10% |
| 194J | Fees for professional or technical services | Rs 30,000 (Rs 0 in case of Directors) | 2% (Technical services or call centers), 10% (Professional services) |
| 194K | Income in respect of units (UTI/MF) | Rs 5,000 | 10% |
| 194LA | Payment of compensation on acquisition of certain immovable property | Rs 2,50,000 | 10% |
| 194 LB | Interest from Infrastructure Bond to NRI | NA | 10% |
| 194 LD | Interest on Rupee denominated bond, municipal debt security and govt. Securities | NA | 5% |
| 194M | Contract, commission, brokerage or professional fee (other than 194C, 194H or 194J) | 50 Lakh | 5% |
| 194N | Cash withdrawal from bank and ITR filed | Rs 1cr | 2% |
| 194N | Cash withdrawal from bank and ITR not filed | Rs 20 Lakh | 2% |
| 194N | Cash withdrawal from bank and ITR not filed | Rs 1cr | 5% |
| 194O | E-commerce sale | Rs 5 lakh | 1% |
| 194P | TDS on Senior Citizen above 75 Years (No ITR filing cases) | Rs 3 lakh | Slab Rates |
| 194Q | Purchase of goods | Rs 50 lakh | 0.10% |
| 194R | Benefits or perquisites arising from business or profession | Rs 20,000 | 10% |
| 194S | TDS on payment for Virtual Digital Assets or crypto currency (w.e.f. 01.07.2022) | – | 1% |
| 206AA | TDS rate in case of Non availability of PAN | – | Higher of – As per act Twice the rate or rate in force 20%d |
| 206AB | TDS on non-filers of ITR at higher rates | – | Higher of – 5% – Twice the rate or rate in force |
Get Daily Updates in Hindi & English
Join Tax solution subscription
Read Also: Income Tax on Cryptocurrency income : TDS, loss, Reporting
Disclaimer:The article or blog or post (by whatever name) in this website is based on the writer’s personal views and interpretation of Act. The writer does not accept any liabilities for any loss or damage of any kind arising out of information and for any actions taken in reliance thereon.
Also, www.babatax.com and its members do not accept any liability, obligation or responsibility for author’s article and understanding of user.
For Collaborating with us-
- Mail us at [email protected]
- Whatsapp us at +91-7024984925
