TDS Rate Chart (AY 2023-24) (FY 2022-23)
TDS Rate Chart (Complete Provisions) AY 2023-24
Check TDS rates for assessment year 2023-24/financial Year 2022-23 along with all provisions like rate of TDS, applicability, non applicability etc. TDS Rates Chart FY 2022-23 AY 2023-24 (Applicable for the payment from 01-04-2022 to 31-03-2023). Please check important notes before calculating TDS rates for assessment year 2023-24. Here are some provisions of surcharge and education cess for some payee. Please comment if you want TDS rates chart in PDF and in excel.
192 - Salary
Who will deduct TDS?
- Any Person Employer
Rate of TDS
- Slab Rate
Not Applicable
- If total income of employee is up to basic exemption limit
192A Accumulated Balance of RPF
Who will deduct TDS?
- Any Person
Rate of TDS
- 10%
Not Applicable
- if aggregate payment is less than Rs.50,000 for year
193 - Interest on securities
Debentures Limit – 5,000
Rate of TDS
- 10%
8% Savings (Taxable) Bonds 2003 or 7.75% Savings (Taxable) Bonds 2018- 10,000
Rate of TDS
- 10%
Other securities- No limit
Rate of TDS
- 10%
194 - Payment of any Dividend
Rate of TDS
- 10%
Not Applicable
- if aggregate payment is less than Rs.5000
194A Interest other than "Interest on securities"
Who will deduct TDS?
- All person except Individual/HUF
Rate of TDS
- 10%
Not Applicable
- Interest paid by bank/post office not exceeding Rs.40,000 (Rs.50,000 for Resident Senior Citizen)
- Other interest not exceeding Rs.5,000
- Interest on loan given to bank
- Interest paid by firm to its partners
- Exempted interest u/s 10(15)
- Interest paid by primary agricultural credit society on deposit made with them
- Interest on tax refund by Govt
- Interest on Zero Coupon Bonds
Individual/HUF Payer – When preceding financial year turnover exceeds Rs.1cr/50 lakh (1 Cr in case of business and 50 lakh in case of profession)
194B Winning from Lottery/Crossword Puzzles
Who will deduct TDS?
- All person
Rate of TDS
- 30%
Not Applicable
- No TDS if winning is up to Rs.10,000
194BB Winning from horse race
Who will deduct TDS?
- All person
Rate of TDS
- 30%
Not Applicable
- No TDS if winning is up to Rs.10,000
194C Payment to contractor, work/labour contract, advertising contract, catering, TV, transporters, job work
Who will deduct TDS?
- Any Person except Ind/HUF
Rate of TDS
- Payee Ind/HUF – 1%
Other – 2%
Not Applicable
- Single payment is upto Rs. 30,000 & aggregate payment upto Rs. 1,00,000 during financial year.
- Personal Contact
- Payment to contractor in transport business owning less than 10 trucks during financial year & furnish PAN
Ind/HUF Payer – When preceding financial year turnover exceeds Rs.1cr/50 lakh (1 Cr in case of business and 50 lakh in case of profession)
194 D Insurance Commission
Who will deduct TDS?
- Any Person
Rate of TDS?
- 5% (other than companies)
- 10% (domestic Companies)
Not applicable?
- Commission/remuneration/reward is upto Rs.15,000/-
194DA Life Insurance Maturity Proceeds
Who will deduct TDS?
- Any Person
Rate of TDS?
- 5% (Income Received)
Not applicable?
- Amount Exempted u/s 10(10D)
- Keyman Insurance Policy
- Amount Received Less Than 1,00,000/-
194E Payment to Non Resident Sportsman
Who will deduct TDS?
- Any Person
Rate of TDS?
- 20.8%
(20% TDS +4% Health & Education Cess)
Not applicable?
- Always Deducted
194EE National Saving Scheme
Who will deduct TDS?
- Any Person
Rate of TDS?
- 10%
Not applicable?
- Payment made to legal heirs of a deceased depositor
- Amount paid less than 2,500/-
194F - Payment for the repurchase of the unit by Unit Trust of India (UTI) or a Mutual Fund
Who will deduct TDS?
- Any Person
Rate of TDS?
- 20%
194G Commission on the sale of lottery
Who will deduct TDS?
- Any Person
Rate of TDS?
- 5%
Not applicable?
- Amount paid is upto Rs. 15,000/-
194H Commission or brokerage other than share brokerage
Who will deduct TDS?
- Any Person except individual/HUF*
Rate of TDS?
- 5%
Not applicable?
- Amount paid is upto Rs. 15,000/-
194I Rent of Land & Building, Plant & Machinery, Furniture & Fitting
Who will deduct TDS?
- Any Person except individual/HUF*
Rate of TDS?
- 2% Plant & Machinery
- 10% Building
- 10% Furniture & Fitting
Not applicable?
- Rent paid is up to Rs.2,40,000/- P.A.
- Rent paid to Govt/Local Authority/RBI
194IA Transfer of Immovable Property (Except Agricultural Land)
Who will deduct TDS?
- Any Person
Rate of TDS?
- 1%
Not applicable?
- Amount Paid 50 Lakh or More
194IB Rent
Who will deduct TDS?
- Individual/HUF not covered u/s 44AB
Rate of TDS?
- 5%
Not applicable?
- Rent paid is up to Rs.50,000 p.m.
Notes:
- TDS is deducted on the last month of financial year or in the month of leaving/vacating the property.
194IC Specified Agreement 45(5A)
Who will deduct TDS?
- Any person
Rate of TDS?
- 10%
Not applicable?
- Always Deducted
194J Fee for Technical Services, Professional Fee, Royalty, Non-Compete Fee, Director's Remuneration
Who will deduct TDS?
- Any person except individual/HUF
Rate of TDS?
- 2% if payee is call center
- 2% if payee is FTS/royalty for cinema films
- 10% other
Not applicable?
- Amount paid is upto Rs.30,000/- each in the case of fee for technical service, professional fee, royalty, non compete fee
- NO limit for directors remuneration
194K TDS in case of Income of units of Mutual fund
Who will deduct TDS?
- Any person (UTI/Mutual Funds Units)
Rate of TDS?
- 10%
Not applicable?
- Amount paid is upto Rs.5000/-
194LA Compensation on compulsory acquisition of immovable property
Who will deduct TDS?
- Any person (UTI/Mutual Funds Units)
Rate of TDS?
- 10%
Not applicable?
- Amount paid is upto Rs.2,50,00/- in a year
- No TDS on compensation on compulsory acquisition of any agricultural land
194LB Interest on infrastructure Debt Fund
| 194LB | Payment of interest on infrastructure debt fund to Non-Resident | 5% |
| 194LC | Payment of interest for the loan borrowed in foreign currency by an Indian company or business trust against loan agreement or the issue of long-term bonds | 5% |
| 194LC | Payment of interest for the loan borrowed in foreign currency by an Indian company or business trust against the issue of long-term bonds listed in IFSC | 4% |
| 194LD | Payment of interest on bond (rupee-denominated) to FII or a QFI | 5% |
| 194LBA(1) | Certain income distributed by a business trust to its unitholder | 10% |
| 194LBA(2) | Interest income of a business trust from SPV distribution to its unitholders | 5% |
| 194LBA(2) | Dividend income of a business trust from SPV, in which it holds the entire share capital exempt the capital held by the government, and distribution to its unitholders | 10% |
| 194LBA(3) | Rental income payment of assets owned by the business trust to the unitholders of such business trust | 30% |
| 194LBA(3) | Rental income payment of assets owned by the business trust to the unitholders of such business trust | 40% |
| 194LBB | Certain income paid to a unitholder in respect of units of an investment fund | 10% |
| 194LBB | Certain income paid to a unitholder in respect of units of an investment fund | 40% |
| 194LBC | Income from investment in securitization fund received to an individual and HUF | 25% |
| 194LBC | Income from investment in securitization fund received to a domestic company | 10% |
| 194LBC | Income from investment in securitization fund received to a foreign company | 40% |
| 194LBC | Income from investment in securitization fund received to NRI | 10% |
194M Contract, Commission, Brokerage, Professional Fee
Who will deduct TDS?
- Individual/HUF (other than covered u/s 194C, 194H, 194J)
Payee
- Any Resident Person
Rate of TDS?
- 5%
Not applicable?
- Amount paid up to Rs. 50,00,000/-
Notes: Applicable only to Any Resident Individual/HUF
194N Cash Withdrawals
Who will deduct TDS?
- Bank/PO
Payee
- Any Resident Person
Rate of TDS?
Above Rs. 1 Crore – 2%
In case of Non filing of income tax return
- 20 Lakh to 1 Crore – 2%
- Above 1 Crore – 5%
Not applicable?
- Amount paid up to Rs. 1 crore
194O TDS Payment by e-Commerce Operator
Who will deduct TDS?
- E-Commerce Operator
Payee
- E-Commerce Participant (Sellers)
Rate of TDS?
- 1%
Not applicable?
- Amount paid up to Rs.5 Lakh (Ind/HUF)
194P - Pension Along With Interest on Bank Account
Who will deduct TDS?
- Notified Specified Bank
Payee
- Specified Senior Citizen
Rate of TDS?
- Slab Rate
Specified Senior Citizen:
- Resident 75 years of age or more
- Only pension income no other income except interest income received from any account maintained by such individual in the same specified bank in which he/she receiving his/her pension income; and
- has furnished a declaration to the specified bank.
194Q Purchase of Goods (w.e.f. 1-7-2021)
Who will deduct TDS?
- Buyer (Sales/Receipts/Turnover from Business exceeds Rs. 10 crores during the Financial Year immediately preceding the FY in which the purchase of goods is carried out)
Rate of TDS?
- 0.1% of sum exceeding 50 Lakhs
Non-Applicability
- No TDS if aggregate purchase is upto 50 lakhs in a previous year
194R - Perquisite or Benefit to a Business or Profession
Who will deduct TDS?
- Employer who provide perks or benefits
Rate of TDS?
- 10%
Non-Applicability
- No TDS if the value of the perquisite or benefit does not exceed Rs.20,000/-
194S - TDS on Transfer Virtual Digital Assets
Rate of TDS?
- 1%
Non-Applicability
- Specified Person – 50,000/-
- Others – 10,000/-
‘Specified person’ means a person:– being an individual or Hindu undivided family – Turnover from Business does not exceed 1 crore rupees or Turnover from Profession does not exceed 50 lakh, during the financial year immediately preceding the financial year in which such virtual digital asset is transferred; being an individual or Hindu undivided family – having income under any head other than the head ‘Profits and gains of business or profession’.
195 - Payment to a Non-Resident
| Nature of Payment | Payee | Non Domestic Company |
| Income on investments made by NRI citizen | Non Resident | 20% |
| Income by way of LTCG referred to in section 115E in the case of NRI | Non Resident | 10% |
| Income by way of LTCG under section 112(1)(c)(iii) | Non Resident/Foreign Company | 10% |
| Income by way of LTCG under section 112A | Non Resident/Foreign Company | 10% |
| Income by way of STCG under section 111A | Non Resident/Foreign Company | 15% |
| Any other income by way of LTCG | Non Resident/Foreign Company | 20% |
| Interest payable on money borrowed by the government or Indian concern in foreign currency | Non Resident/Foreign Company | 20% |
| Income from royalty payable by the Indian concern or the government, for the copyright in a subject referred in the first proviso of section 115A or computer software referred to in the second proviso of section 115A | Non Resident/Foreign Company | 10% |
| Income from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy | Non Resident | 10% |
| Income from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy
If the agreement for such royalty payment is entered in between 31st March 1961 and 1st April 1976 |
Foreign Company | 50% |
| Income from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy
If the agreement for such royalty payment is entered after 31st March 1976 |
Foreign Company | 10% |
| Income from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy | Non Resident | 10% |
| Income from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy
If the agreement for such payment is entered in between 29th February 1964 and 1st April 1976 |
Foreign Company | 50% |
| Income from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy
If the agreement for such payment is entered after 31st March 1976
|
Foreign Company | 10% |
| Any other income | Non Resident | 30% |
| Any other income | Foreign Company | 40% |
196A, 196B, 196C, 196D(1) 196D (1A)
| 196A – Income in respect of units of non-resident/foreign company | 20% |
| 196B – Payment of income from units (including LTCG on transfer of such units) to offishore fund | 10% |
| 196C – Payment credit of interest of foreign currency bonds or GDR (including LTCG on transfer of such bonds) | 10% |
| 196D(1) Payment of income from securities | 20% |
| 196D(1A) Payment of interest from securities to a specified fund | 10% |
Important Notes
Surcharge on TDS
if recipient is Non Resident (Individual/HUF/AOP/BOI/Artificial Juridical Person)
How to Calculate = (TDS Rate + Surcharge + HEC)
| Payment Limit | Surcharge | HEC |
| Rs.0 to Rs. 50 Lakh | – | 4% |
| Rs.50 Lakh to Rs.1 Crore | 10% | 4% |
| Rs.1 Crore to Rs. 2 Crore | 15% | 4% |
| Rs.2 Crore to Rs. 5 Crore | 25% | 4% |
| Above Rs.5 Crore | 37% | 4% |
if recipient is Non Resident Co-operative Society/Firm
| Payment Limit | Surcharge | HEC |
| Rs.0 to Rs.1 Crore | – | 4% |
| Above Rs.1 Crore | 12% | 4% |
if recipient is Domestic Company
| Payment Limit | Surcharge | HEC |
| Rs.0 to Rs.1 Crore | – | 4% |
| Rs.1 Crore to Rs.10 Crore | 2% | 4% |
| Above Rs.10 Crore | 5% | 4% |
Sec 206AA – If PAN is not furnished by payee to payer
- Actual Rate or 20% whichever is higher
Provisions: This section not applicable in the following cases
- 194LC
- 192A – max rate 42.744 not 20%
- 194O 194Q – 5% not 20%
- As per rule 37BC
Non Resident Payee
(a) Name, email-id, contact number, address in foreign country, tax residency certificate issued by the foreign government and tax identification number issued by the foreign country.
if satisfies the conditions of rule 114AAB
Sec 206AB – Non Filer of Income Tax Return
- Twice the actual rate or 5% whichever is higher
- other than section 192, 192A, 194B, 194BB, 194 IA, 194 IB, 194 LBC, 194M,
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Sir, Please Send me details of TDS paid (Percentage of TDS if Tritty is avail or Not ) in Section 195 Other Sums against payment of Export Sales Commission & Export Sales Consultancy Fees.