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

tds rate chart FY 2023-24

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

SectionFor Payment ofThreshold limitTDS Rate %
192Salary IncomeIncome Tax SlabSlab rates
192AEPF – Premature withdrawal Rs. 50,00010%  (20% in case of no PAN)
193Interest on SecuritiesRs. 5,000 – Debentures
Rs. 10,000  – Govt securities
194DividendRs. 5,00010%
194AInterest by banks / post office other than on securitiesRs. 50,000 –  Senior Citizens
Rs. 40,000 – Others
194AInterest by others other than on securitiesRs. 5,00010%
194BWinnings from Lotteries / Puzzle / GameRs. 10,00030%
194BAIncome from online gamesNA30%
194BBWinnings from Horse RaceRs. 10,00030%
194CContractRs. 30,000 (Single Transaction)
Rs. 1,00,000 (Aggregate of Transactions)
1% (Individuals/HUF)
2% (Others)

194DPayment of Insurance CommissionRs. 15,0005% (Individual)
10% (Others)
194DAMaturity of Life Insurance PolicyRs. 1,00,0005%
194EPayment to non-resident sportsmen/sports associationNA20% + Surcharge+ Cess
194EEPayment in respect of deposit under National Savings schemeRs. 2,50010%
194FPayment on account of repurchase of unit by Mutual Fund or Unit Trust of IndiaNA20%
194GCommission on Sale of Lottery ticketsRs. 15,0005%
194HCommission or BrokerageRs. 15,0005%
194IRent of Land, Building or FurnitureRs. 2,40,00010%
194IRent of Plant & MachineryRs. 2,40,0002%
194IATransfer of Immovable Property , other than Agricultural landRs. 50 Lakh1%
194IBPayment of rent by individual or HUF not liable to tax auditRs. 50,000
(per month)
194ICPayment of monetary consideration under Joint Development AgreementsNA10%
194JFees for professional or technical servicesNA- Director
Others- Rs. 30,000
2%  (Technical services)
10% (Professional services)
194KIncome in respect of units (UTI/MF)NA10%
194LAPayment of compensation on acquisition of certain immovable propertyRs. 2,50,00010%
194LBInterest from Infrastructure Bond to NRINA5%
194LCPayment 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 bondsNA4% (Long-term Bond or Rupee Denominated Bond listed on RSE in IFSC) 5% (Others)
194LDInterest on Rupee denominated bond, municipal debt security and govt. SecuritiesNA5%
194MContract, commission, brokerage or professional fee (other than 194C, 194H or 194J)50 Lakh5%
194NCash withdrawal from bank and ITR filedRs. 3 cr (Cooperative society)   
Rs. 1cr – Others
194NCash withdrawal from bank and ITR not filed Rs. 20 Lakh2%
194NCash withdrawal from bank and ITR not filedRs. 3 cr -Cooperative society   
Rs. 1cr
194OE-commerce saleRs. 5 lakh1% (5%, in case of no PAN)
194PTDS on Senior Citizen above 75 Years (No ITR filing cases)Slab Rates
194QPurchase of goods Rs. 50 lakh0.10%
194RBenefits or perquisites arising from business or professionRs. 20,00010%
194STDS on payment for Virtual Digital Assets or crypto currencyRs 50,000 (Specified Persons)
Rs 10,000 (Others)
206AATDS rate in case of Non availability of
Higher of : –As per act
–Twice the rate in force
206ABTDS on non-filers of ITR at higher ratesHigher of
– 5%
– Twice the rate or rate in force

Read Also: AIS: Income Tax department App to check high value transactions and TDS

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