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TDS RATE CHART FOR FY 2023-24
28-03-2024
SectionDeductee Nature of TransactionThreshold Limit (Rs)TDS Rate
192Resident, Non-ResidentPayment of SalaryBasic exemption limitNormal slab rates
192AResident, Non-ResidentPremature Withdrawal from EPF50,00010% rate of TDS if PAN is provided.
If EPF withdrawal is made without a PAN, the applicable rate is 20%.
193ResidentInterest on securities250010% budget 2023: The exemption of TDS on interest from listed debentures has been removed. Therefore, tax has to be deducted on the interest on such specified securities.
194ResidentDividend500010%
194AResidentInterest from other than interest from securities (from deposits bank/post office/ co-operative society)Senior Citizens- 50,000 Others-40,00010% for both
194AResidentInterest from other than interest on securities and interest on bank deposits.5,00010%
194BResident, Non-ResidentIncome from lottery winnings, puzzles, crosswords, card games and other games of any type10,00030%
194BAResident, Non-ResidentIncome from online gamesNil30%
194BBResident, Non-ResidentIncome from horse race winning10,00030%
194CResidentPayment to Contractor/ Sub-contractorSingle transaction- 30,000
Aggregate transactions- 1,00,000
HUF/Individuals: 1%
Others: 2%
194DResidentInsurance commission to:
a) Domestic Companies15,00010%
b) Individuals15,0005%
194DAResidentIncome for the Insurance Pay-out, While Payment of any sum in respect of a life insurance policy1,00,0005%
194ENR Sport men, NR Sports Association, NR EntertainerPayment to non-resident sports association/ sportsmenNo limit20% The rate will be subject to an additional surcharge and 4% cess.
194EEResident, Non-Resident National Savings Scheme2,50010%
194FPayment for the re-purchase of the unit by Mutual Fund or UTINo specified limit20%
194GResident, Non-ResidentPayments, Commission on the sale of lottery tickets15,0005%
194HResidentCommission or brokerage on other 15,0005%
194-IResidentRent :
194-I(a)Rent on plant and machinery2,40,0002%
194-I(b) Rent on land/building/furniture/fitting2,40,00010%
194-IAResidentPayment on transfer of immovable property except agricultural land50,00,0001%
194-IBResidentRent paid by HUF/Individual who is not required to conduct tax audit50,000 per month5%
194-ICResidentPayment under JDA, Joint Development AgreementsNo specified limit10
194JResidentFees paid for –
– Technical services
– Royalty in nature of consideration for sale, Exhibition of cinematographic films
– Operation of the call center.
30,000

2%
194JResidentFees paid for any other professional services or technical service30,00010%
194JResidentPaid for Remuneration/Fee/Commission to a Director 30,00010%
194LAResidentCompensation on acquiring certain an immovable property2,50,00010%
194MResidentPayment of Individual / HUF commission except income tax commission under Section 194C, 194H, and 194J50,00,0005%
194NResident, Non-ResidentCash withdrawal exceeding a certain amount Co-Operative
Society: 3Crore
Others: 1Crore

2%
194NResident, Non-ResidentCash withdrawal from multiple bank accounts during the previous year
Amount exceeding 1 crore1 crore2%

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Jibin Jose & Associates
7A, Kalyan Sancture,
Muttambalam P.O,
Kottayam-686004

jib228@gmail.com

+91 8129 26 5300

+91 9072 03 0648