TDS Rate Chart for FY 2023-24 – AY 2024-25 – Updated

TDS Rate Chart for FY 2023-24: 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 2023-24

Section	For Payment of	Threshold limit	TDS Rate %
192	Salary Income	Income Tax Slab	Slab rates
192A	EPF – Premature withdrawal	Rs. 50,000	10% (20% in case of no PAN)
193	Interest on Securities	Rs. 5,000 – Debentures Rs. 10,00 – Govt securities Rs. 2,500 – Other Securities	10%
194	Dividend	Rs. 5,000	10%
194A	Interest by banks / post office other than on securities	Rs. 50,000 – Senior Citizens Rs. 40,000 – Others	10%
194A	Interest by others other than on securities	Rs. 5,000	10%
194B	Winnings from Lotteries / Puzzle / Game	Rs. 10,000	30%
194BA	Income from online games	NA	30%
194BB	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)
194D	Payment of Insurance Commission	Rs. 15,000	5% (Individual) 10% (Others)
194DA	Maturity of Life Insurance Policy	Rs. 1,00,000	5%
194E	Payment to non-resident sportsmen/sports association	NA	20% + Surcharge+ 4% Cess
194EE	Payment in respect of deposit under National Savings scheme	Rs. 2,500	10%
194F	Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India	NA	20%
194G	Commission on Sale of Lottery tickets	Rs. 15,000	5%
194H	Commission or Brokerage	Rs. 15,000	5%
194I(a)	Rent of Plant & Machinery	Rs. 2,40,000	2%
194I(b)	Rent of Land, Building or Furniture	Rs. 2,40,000	10%
194IA	Transfer of Immovable Property , other than Agricultural land	Rs. 50 Lakh	1%
194IB	Payment of rent by individual or HUF not liable to tax audit	Rs. 50,000 (per month)	5%
194IC	Payment of monetary consideration under Joint Development Agreements	NA	10%
194J	Fees for professional or technical services	Others- Rs. 30,000	2% (Technical services) 10% (Professional services)
194K	Income in respect of units (UTI/MF)	NA	10%
194LA	Payment of compensation on acquisition of certain immovable property	Rs. 2,50,000	10%
194LB	Interest from Infrastructure Bond to NRI	NA	5% + Surcharge+ 4% Cess
194LC	Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds	NA	4% (Long-term Bond or Rupee Denominated Bond listed on RSE in IFSC) 5% (Others)
194LD	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. 3 cr – Cooperative society Rs. 1cr – Others	2%
194N	Cash withdrawal from bank and ITR not filed	Rs. 20 Lakh – Rs. 3 cr – Cooperative society Rs. 20 Lakh – Rs. 1 cr – Others	2%
194N	Cash withdrawal from bank and ITR not filed	Above Rs. 3 cr – Cooperative society Above Rs. 1 cr – Others	5%
194O	E-commerce sale	Rs. 5 lakh	1% (5%, in case of no PAN)
194P	TDS on Senior Citizen above 75 Years (No ITR filing cases)	–	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	Rs 50,000 (Specified Persons) Rs 10,000 (Others)	1%
206AA	TDS rate in case of Non availability of PAN	–	Higher of : –As per act –Twice the rate in force –20%
206AB	TDS on non-filers of ITR at higher rates	–	Higher of – 5% – Twice the rate or rate in force