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TDS Rate
TDS / TCS RATES FOR F.Y.2024-25 |
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SECTION |
NATURE OF PAYMENT |
THRESHOLD LIMIT OF PAYMENT |
BASIC EXEMPTION LIMIT |
RATES |
|
| FOR OLD REGIME | FOR NEW REGIME | ||||
| 192 | INCOME FROM SALARY | SUPER SENIOR CITIZEN (80 YEARS OR MORE) | RS. 5,00,000 | RS. 3,00,000 | AVERAGE RATE OF TAX + HEALTH & EDUCATION CESS (SURCHARGE IF SALARY > 50 LACS) TDS AS PER TAX REGIME SELECTED BY EMPLOYEE. IF NOT SELECTED, TDS DEDUCTION AS PER NEW REGIME. |
| SENIOR CITIZEN (60 YEARS OR MORE) | RS. 3,00,000 | RS. 3,00,000 | |||
| OTHERS | RS. 2,50,000 | RS. 3,00,000 | |||
| 192A | PREMATURE WITHDRAWAL FROM EPF | RS. 50,000 | PAN AVAILABLE : 10% | ||
| PAN NOT AVAILABLE : 20% | |||||
| 193 | INTEREST ON SECURITIES (INCLUDING LISTED DEBENTURES) | RS. 5,000 | 10% | ||
| (RS. 10,000 ON 8% SAVINGS (TAXABLE) BONDS, 2003) | |||||
| 194 | DIVIDEND | RS. 5,000 | 10% | ||
| 194A | *INTEREST (OTHER THAN ON SECURITIES) BY A BANKING COMPANY/ POST OFFICE | SENIOR CITIZEN : RS. 50,000 P.A. OTHERS : RS. 40,000 P.A. |
10% | ||
| 194A | INTEREST (OTHER THAN ON SECURITIES) BY OTHERS | RS. 5,000 P.A. | 10% | ||
| 194B | WINNING FROM LOTTERIES & CROSS WORD PUZZLES, CARD GAMES AND OTHER GAMES ON ANY SORT (OTHER THAN WINNING FROM ONLINE GAMES) | RS. 10,000 P.A. | 30% | ||
| 194BA | WINNING FROM ONLINE GAMES | NO LIMIT | 30% | ||
| 194BB | WINNINGS FROM HORSE RACES | RS. 10,000 P.A. | 30% | ||
| 194C | *PAYMENT TO CONTRACTOR/SUB-CONTRACTOR | RS.30,000 SINGLE TRANSACTION (OR) | INDIVIDUAL/HUF : 1% | ||
| RS. 1,00,000 AGGREGATE OF TRANSACTIONS | OTHERS : 2% | ||||
| 194D | INSURANCE COMMISION | RS. 15,000 | OTHER THAN COMPANY :5% | ||
| DOMESTIC COMPANY:10% | |||||
| 194DA | PAYMENT UNDER LIFE INSURANCE POLICY (THE TAX SHALL BE DEDUCTED ON THE AMOUNT OF INCOME COMPRISED IN INSURANCE PAY-OUT) | RS.1,00,000 P.A. | 5% | ||
| 194EE | PAYMENT UNDER NATIONAL SAVINGS SCHEME | RS.2,500 | 10% | ||
| 194F | PAYMENT ON ACCOUNT OF REPURCHASE OF UNITS BY MUTUAL FUND OR UNIT TRUST OF INDIA | NO LIMIT | 20% | ||
| 194G | COMMISSION ON SALE OF LOTTERY TICKETS | RS. 15,000 | 5% | ||
| 194H | *COMMISSION/BROKERAGE | RS. 15,000 P.A. | 5% | ||
| 194-I(A) | *RENT OF PLANT / MACHINERY | RS. 2,40,000 P.A. | 2% | ||
| 194-I(B) | *RENT OF LAND OR BUILDING OR FURNITURE OR FITTING | RS. 2,40,000 P.A. | 10% | ||
| 194-IA | PAYMENT OR TRANSFER OF IMMOVABLE PROPERTY (OTHER THAN RURAL AGRICULTURE LAND) | RS. 50,00,000 & ABOVE | 1% | ||
| (ON THE HIGHER OF AMOUNT OF CONSIDERATION OR THE STAMP DUTY VALUE) | |||||
| 194-IB | RENT PAYABLE BY AN INDIVIDUAL OR HUF NOT LIABLE TO TAX AUDIT | RS.50,000 PER MONTH | 5% | ||
| 194-IC | PAYMENT OF MONETARY CONSIDERATION UNDER JOINT DEVELOPMENT AGREEMENTS TO RESIDENT INDIVIDUAL/HUF | NO LIMIT | 10% | ||
| 194J | *FEES FOR PROFESSIONAL / TECHNICAL SERVICES / ROYALTY / REMUNERATION TO DIRECTOR | RS. 30,000 P.A. (RS. 0 IN CASE OF DIRECTORS) | 2% (FOR CALL CENTRE, FEES FOR TECHNICAL SERVICES & ROYALTY IN CASE OF CINEMATOGRAH FILMS) | ||
| 10% (FOR PROFESSIONAL SERVICES, DIRECTOR REMUNERATION AND OTHER ROYELTY) | |||||
| 194K | INCOME IN RESPECT OF UNITS OF MUTUAL FUNDS OR SPECIFIED COMPANY | RS. 5,000 | 10% | ||
| 194LA | COMPENSATION ON ACQUISITION OF IMMOVABLE PROPERTY | RS. 2,50,000 | 10% | ||
| 194LBA(1) | BUSINESS TRUST SHALL DEDUCT TAX WHILE DISTRIBUTING, ANY INTEREST RECEIVED OR RECEIVABLE BY IT FROM A SPV OR ANY INCOME RECEIVED FROM RENTING OR LEASING OR LETTING OUT ANY REAL ESTATE ASSET OWNED DIRECTLY BY IT, TO ITS RESIDENT UNIT HOLDERS. | NO LIMIT | 10% | ||
| 194LBB | PAYMENT IN RESPECT OF UNITS OF INVESTMENT FUNDS U/S 115UB [OTHER THAN INCOME WHICH IS EXEMPT UNDER SECTION 10(23FBB)] | NO LIMIT | 10% | ||
| 194LBC(1) | INCOME IN RESPECT OF INVESTMENT MADE IN A SECURITISATION TRUST | NO LIMIT | INDIVIDUAL OR HUF: 25% | ||
| OTHER : 30% | |||||
| 194M | PAYMENT TO RESIDENT CONTRACTORS AND PROFESSIONALS OR BY WAY OF COMMISSION / BROKERAGE (OTHER THAN THOSE WHO COVERED U/S 194C OR 194J) BY INDIVIDUAL/HUF NOT LIABLE FOR TAX AUDIT. | RS. 50 LACS | 5% | ||
| 194N | AGGREGATE CASH WITHDRAWAL FROM BANK / CO-OPERATIVE BANK / POST OFFICE ETC. (* BY PERSONS WHO HAVE NOT FILED ITR FOR 3 PREVIOUS YEARS IMMEDIATELY PRECEDING THE PREVIOUS YEAR AND THE DUE DATE FOR FILING ITR UNDER SECTION 139(1) HAS EXPIRED) | RS. 20 LAKHS | CASH WITHDRAWAL BETWEEN RS. 20 LAKHS TO RS. 1 CRORE : 2% | ||
| CASH WITHDRAWAL ABOVE RS. 1 CRORE : 5% | |||||
| 194N | AGGREGATE CASH WITHDRAWAL FROM BANK, POST OFFICE ETC. IN CASE OF OTHERS. | RS. 1 CRORE | 2% | ||
| 194-O | PAYMENT BY E-COMMERCE OPERATOR TO E-COMMERCE PARTICIPANTS | INDIVIDUAL /HUF : RS. 5 LAKH | 1% | ||
| OTHERS : NO LIMIT. | |||||
| 194P | TDS DEDUCTION BY BANK IN CASE OF SPECIFIED SENIOR CITIZEN ABOVE 75 YEARS DRAWING PENSION | RS. 3,00,000 | AS PER RATES IN FORCE | ||
| (NOTE-1) | |||||
| 194Q | PAYMENT FOR PURCHASE OF GOODS | 50 LAKHS | 0.1% (ON THE VALUE ABOVE RS. 50 LAKHS) | ||
| 194R | BENEFITS OR PERQUISITES ARISING FROM BUSINESS OR PROFESSION | RS. 20, 000 | 10% | ||
| 194S | PAYMENT OF CONSIDERATION FOR TRANSFER OF VIRTUAL DIGITAL ASSETS OF CRYPTO CURRENCY | BY SPECIFIED PERSONS(NOT HAVING INCOME PGBP OR LESS THAN 1CR/50 LAKH) : RS. 50,000 | 1% | ||
| BY OTHERS : RS. 10,000 | |||||
| 206AA | TDS RATE IN CASE OF NON AVAILABILITY OF PAN | - | HIGHER OF- | ||
| RATES IN FORCE | |||||
| 20% | |||||
| 206AB | TDS ON NON-FILERS OF ITR AT HIGHER RATES | - | HIGHER OF - | ||
| – 5% | |||||
| – TWICE THE RATE OR RATES IN FORCE | |||||
| * OTHER THAN INDIVIDUAL OR HUF (EXCEPT THOSE COVERED U/S 44AB) | |||||
| NOTE-1 | |||||
| NO ITR FILING BY SENIOR CITIZEN IF ALL THE FOLLOWING CONDITIONS ARE SATISFIED: | |||||
| 1. THE SENIOR CITIZEN IS RESIDENT IN INDIA. | |||||
| 2. HE IS OF THE AGE OF 75 YEARS OR MORE DURING THE PREVIOUS YEAR. | |||||
| 3. HE HAS ONLY PENSION INCOME AND MAY ALSO HAVE INTEREST INCOME FROM THE SAME BANK (SPECIFIED BANK) IN WHICH HE IS RECEIVING HIS PENSION INCOME; | |||||
| 4. HE HAS FURNISHED A DECLARATION IN FORM 12BBA TO THE SPECIFIED BANK. | |||||
| 5. SPECIFIED BANK WOULD BE REQUIRED TO COMPUTE INCOME AFTER GIVING EFFECT TO DEDUCTIONS ALLOWABLE UNDER CHAPTER VI-A AND REBATE UNDER SECTION 87A AND DEDUCT INCOME TAX ON THE RATES IN FORCE. | |||||
| 6. AS PER NOTIFICATION NO. S.O. 3595(E) DATED 2ND SEP, 2021, SPECIFIED BANKS MEANS A BANKING COMPANY WHICH IS A SCHEDULED BANK AND HAS BEEN APPOINTED AS AGENTS OF RBI U/S 45 OF THE RBI ACT. MOST OF THE MAJOR PUBLIC SECTOR BANKS, PRIVATE SECTOR BANKS &FOREIGN BANKS ARE COVERED. | |||||
| NOTES- | |||
SURCHARGES & EDUCATION CESS |
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| TYPE OF PAYMENT | SURCHARGE | RATE | HEALTH & EDU CESS (4.00%) |
| SALARY (RESIDENTS) | UPTO 50 LACS | NIL | YES |
| 50 LACS TO 1 CRORE | 10% | YES | |
| > 1 CRORE BUT UPTO 2 CRORE | 15% | YES | |
| > 2 CRORE BUT UPTO 5 CRORE | 25% | YES | |
| > 5 CRORE | 37% (OLD REGIME) | YES | |
| 25% (NEW REGIME) | |||
| OTHER PAYMENTS TO RESIDENTS | NO | NIL | NO |
INTEREST FOR FAILURE TO DEDUCT TAX AT SOURCE/DELAY IN PAYMENT OF TDS |
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| STAGE OF DEDUCTION | RATE PER MONTH OR PART OF THE MONTH | ||
| FROM DATE WHEN DEDUCTIBLE TILL ACTUAL DEDUCTION | 1.00% | ||
| FROM DATE OF DEDUCTION TILL PAYMENT | 1.50% | ||
