Section of the Income-tax Act
|
Nature of Payment
|
Rate of TDS
|
Threshold (INR)
|
Remarks
|
192
|
Salary Payment
|
Normal slab rates or New Tax Regime Slab Rate as opted by employee
|
Taxable Income that is laible to tax
|
Basic exemption limit for employees
|
192A
|
Premature Withdrawal from EPF
|
10%
|
50000
|
The suggestion is to remove the second provision in Section 192A of the act, which would result in tax being deducted The suggestion is to remove the second provision in Section 192A of the act, which would result in tax being deducted at a rate of 20% instead of the maximum marginal rate in the event that the individual fails to provide their PAN for payment of their outstanding balance. This change would come into effect for the Assessment Year 2023-24.
|
193
|
Interest on Securities
|
10%
|
2500
|
The proposal suggests the removal of clause ix from the proviso to Section 193 of the Act. This would result in the exemption from TDS on payment of interest on listed debentures to a resident being eliminated, starting from 01-04-2023.
|
194
|
Dividend
|
10%
|
5000
|
–
|
194A
|
Interest other than interest on securities (Bank Deposit/Post Office Deposit/Banking Co-Society Deposit)
|
10%
|
|
–
|
(a) Senior Citizens
|
50000
|
|
(b) Others
|
40000
|
|
194A
|
Interest other than interest on securities (Other than Bank Deposit/Post Office Deposit/Banking Co-Society Deposit)
|
10%
|
5000
|
|
194B
|
Winnings from lotteries, crossword puzzles, card games and other games
|
30%
|
10000
|
The threshold limit of 10,000 for TDS on lottery, crossword puzzles, and other similar games shall remain in place, but it will now apply to the total winnings received throughout a financial year. Additionally, starting from 01-07-23, there is a proposal to amend Section 194B. The amendment aims to exclude online games from the scope of this section and introduce a new section 194BA
|
194BA
|
Winning from Online Games
|
30%
|
Nil
|
As per the proposed amendment, any individual who is responsible for paying income to another individual in the form of winnings from an online game during a financial year must deduct income-tax on the net winnings present in the user account at the end of the financial year. The computation method for the same shall be prescribed. However, in cases where there is a withdrawal from the user account during the financial year, the income-tax shall be deducted at the time of withdrawal on the net winnings present in the withdrawal amount and the remaining net winnings in the user account at the end of the financial year.
|
194BB
|
Income earned from winning in horse races
|
30%
|
10000
|
Threshold limit 10,000 for TDS shall continue but shall apply to aggregate winnings during a financial year
|
194C
|
Payment of Contractors and sub-contractors
|
1% (individual/HUF)
2% (others)
|
Single Transaction: 30,000/ Aggregate of Transactions: 1,00,000
|
–
|
194D
|
Insurance Commission
|
5% (Individual)
10% (Companies)
|
15000
|
–
|
194DA
|
Payment in respect of life insurance policy
|
5%
|
100000
|
–
|
194E
|
Payment to non-resident sportsmen/sports association
|
20%
|
–
|
The rate of TDS shall be increased by applicable surcharge and Health & Education cess.
|
194EE
|
Payments in respect of deposits under National Savings Scheme
|
10%
|
2500
|
–
|
194F
|
Payments on account of re-purchase of Units by Mutual Funds or UTI
|
20%
|
|
–
|
194G
|
Commission, prize etc., on sale of lottery tickets
|
5%
|
15000
|
–
|
194H
|
Commission or brokerage
|
5%
|
15000
|
–
|
194-I(a)
|
Rent for plant and machinery
|
2%
|
240000
|
–
|
194-I(b)
|
Rent for immovable property
|
10%
|
240000
|
–
|
194-IA
|
Payment for acquisition of immovable property other than agriculture land
|
1%
|
50 Lakhs
|
TDS is to be deducted at the rate of one per cent of such sum paid or credited to the resident or the stamp duty value of such property, whichever is higher. In case the consideration paid for the transfer of immovable property and the stamp duty value of such property are both less than fifty lakh rupees, then no tax is to be deducted.
|
194-IB
|
Payment of rent by individual or HUF
|
5%
|
50000 per Month
|
–
|
194-IC
|
Payment for Joint Development Agreements
|
10%
|
|
–
|
194J
|
Fee for Professional or Technical Services (FTS), Royalty, etc.
|
2% (FTS, certain royalties, call centre)
10% (others)
|
30000
|
–
|
194K
|
Payment of dividend by Mutual Funds
|
10%
|
–
|
–
|
194LA
|
Payment of Compensation on acquisition of immovable property
|
10%
|
250000
|
–
|
194LBA(1)
|
Payment of income by Business trust
|
10%
|
|
–
|
194LBB(i)
|
Payment of income by Investment fund
|
10%
|
|
–
|
194LBC(1)
|
Income by securitization trust
|
25% (Individual/HUF)
30% (Others)
|
|
–
|
194M
|
Payment to commission, brokerage etc. by Individual and HUF
|
5%
|
50 Lakhs
|
–
|
194N
|
Cash withdrawal during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office
|
2% / 5%
|
20 Lakhs / 1 Crore
|
–
|
194-O
|
TDS on e-commerce participants
|
1%
|
5 Lakhs
|
In case of non-availability of PAN, TDS Rate shall be 5%
|
194P
|
TDS on Senior Citizen above 75 Years
|
Tax Rates in Force
|
Taxable Income liable to Tax
|
–
|
194Q
|
Purchase of goods (applicable w.e.f 01.07.2021)
|
0.10%
|
50 Lakhs
|
–
|
194R
|
TDS on benefit or perquisite of a business or profession
|
10%
|
20000
|
–
|
194S
|
Transfer of Virtual Digital Assets
|
1%
|
|
|
195
|
Payment of any other sum to a Non-resident
|
|
|
The rate of TDS shall be increased by applicable surcharge and Health & Education cess.
|
195
|
(a) Investment made by a Non-resident Indian Citizen
|
20%
|
|
–
|
195
|
(b) Long-term capital gains referred to in Section 115E in case of a Non-resident Indian Citizen
|
10%
|
|
–
|
195
|
(c) Long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-Section (1) of Section 112
|
10%
|
|
–
|
195
|
(d) Long-term capital gains as referred to in Section 112A
|
10%
|
|
–
|
195
|
(e) Short-term capital gains referred to in Section 111A
|
15%
|
|
–
|
|
(f) Any other income by way of long-term capital gains
|
20%
|
|
–
|
|
(g) Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC)
|
20%
|
|
–
|
|
(h)Any other Income
|
30%
|
|
|
196B
|
Income from units from an offshore fund
|
10%
|
|
|
196C
|
Income from foreign currency bonds or GDR of an Indian company
|
10%
|
|
|
196D
|
Income of foreign Institutional Investors from securities
|
20%
|
|
|
206AB
|
Payment to non-filers, i.e. those who have not filed their income tax return in the last year
|
– 2 times the rate given in the Income Tax Act or Finance Act or – 5%, whichever is higher
|
–
|
Non filers do not include: – People who are not required to file their ITRs – NRs who do not have a PE in India
|
206AA
|
TDS rate in case of Non availability of PAN
|
Rates specified above or 20%, whichever is higher
|
–
|
–
|