10/19/22, 3:31 PM TDS Rates

Rates for tax deduction at source

[For Assessment year 2023-24]

Particulars TDS Rates (in
)
1. In the case of a person other than a company
1.I where the person is resident in India-

Section 192: Payment of salary Normal Slab Rate

Section 192A: Payment of accumulated balance of provident fund which is taxable in 10
the hands of an
employee.
Section 193: Interest on securities
a) any debentures or securities for money issued by or on behalf of any local 10
authority or a corporation established by a Central, State or Provincial Act;

b) any debentures issued by a company where such debentures are listed on a 10

recognised stock exchange in accordance with the Securities Contracts (Regulation)
Act, 1956 (42 of 1956) and any rules made
thereunder
c) any security of the Central or State Government; 10
i.e. 8% Savings (Taxable) Bonds, 2003 and 7.75% Saving (Taxable) Bonds, 2018]
|d) interest on any other security
10
Section 194: Income by way of dividend 10
Section 194A: Income by way of interest other than "Interest on securities" 10
Section 194B: Income by way of winnings from lotteries, crossword puzzles, card 30
games and other games of any sort

Section 194BB: Income by way of winnings from horse races 30

Section 194C: Payment to contractor/sub-contractor
a) HUF/ndividuals 1
b) Others 2
Section 194D: Insurance commission 5
Section 194DA: Payment in respect of life insurance policy

w.e.f. 1/9/2019, the tax shall be deducted on the amount of income

comprised in|
insurance pay-out

Section 194EE: Payment in respect of deposit under National Savings scheme 10

Section 194E: Payment on account of repurchase of unit by Mutual Fund or Unit| 20
Trust of India
Section 194G: Commission, etc., on sale of lottery tickets
Section 194H: Commission or brokerage
Section 194-1: Rent
a) Plant & Machinery
2

htne:/lincnmatayiniia nnu inlcharts tahles/tds rates htm

1/9
 TDS Rates
b) Land or building or furniture or
fitting 10
ection 94-1A: Payment on transfer of certain immovable property other than
agricultural land
Section 194-1B: Payment of rent by individual or HUF not liable to tax audit 5
Section 194-1C: Payment of
monetary consideration under Joint Developmen 10
|Agreements
Section 194J: Fees for professional or technical services:
1) paid or payable towards fees for technical
sum
services 2
11) Sumpaid or payable towards royalty in the
nature of consideration for
distribution or exhibition of sale,| 2
ii) Any other sum cinematographic films;
10
Note: With effect from June 1, 2017 the rate of
engaged in business of operation of call center. TDS would be 2% in case of payee
Section 194K: Income in respect of units payable to resident
person 10
Section 194LA: Payment of compensation on
property acquisition of certain immovable 10

Section 194LBA(1): Business trust shall deduct tax while

received or receivable by it from a SPV or any income distributing, any interest| 10
leasing or letting out any real estate asset owned received from renting or
directly by it, to its unit holders.
Section 194LBB: Investment fund paying an income to a unit
income which is exempt under Section holder [other than | 10
10(23FBB)]
Section 194LBC: Income in respect of investment made in a
(specified in Explanation of section 11STCA) securitisation trust| 25 in case of
Individual or HUF
30 in case of other

Section194M: Payment of
commission
person
brokerage, contractual fee, professional fee to a(not being insurance commission),
resident person by an Individual 5
HUF who are not liable to deduct
TDS under or a
section 194C, 194H, or 194J.
Tax shall be deducted under
aggregate of sum credited or
Section 194M with effect from 1/09/2019
when
paid during a financial year exceeds Rs. 50 lakh.

Section 194N: Cash withdrawal during the previous year from one or
maintained by a person with a banking company, c0-operative more account
business of banking or a post office: society engaged in|
i) in excess of Rs. 1 crore
ii) in excess of Rs. 20 lakhs*
2/5
*
for those persons who have not filed return
of income
years immediately preceding the previous year in which (ITR) for three previous
cash is withdrawn, and
due date for filing ITR under section 132(1) has the
this situation shall be at the rate of: expired. The deduction of tax under
a) 2% from the amount withdrawn in cash if the
withdrawal exceeds Rs. 20 lakhs during the aggregate of the amount of
previous year; or
b) 5% from the amount withdrawn in cash if the
withdrawal exceeds Rs. I crore during the aggregate of the amount of
previous year.
Section 194-0: Payment or credit ot amount by the e-commerce
operator to e-
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 10/19/22, 3:31 PM TDS Rates

commeree participant
Section 194P; Deduction of tax by specified bank in case of senior citizen having age Tax on total income
of 75 or more as per rate in force

10 Section 194Q; Payment for purchase of goods of the aggregate value cxceeding Rs. 0.1
50 lakhs

Note: TDS is deductible on sum exceeding Rs. 50 lakhs

10
Section 194R: Deduction of tax in case any benefit or perquisite is provided and
aggregate value of such benefit/perquisite exceeds Rs. 20,000
10
Note: Benefit or perquisite should be arising from business the exercise of
profession by such resident.
or
a

10
Section 194S: Payment on transfer of Virtual Digital Asset
10
Note: No tax shall be deducted under this provision in the following circumstance
10 If the consideration is payable by any person (other than a specified person) and its
aggregate value does not exceed Rs. 10,000 during the financial year.
if the consideration is payable by a specified person and its aggregate value does not |
10 exceed Rs. 50,000 during the financial year.
| Specified person means:
5 in case of
idual or HUF (a) An individual or a HUF, whose total sales, gross receipts or turnover does
case of other exceed Rs. crore in case of business or Rs. 50 lakhs in case of a not
profession,
|the financial year immediately preceding the financial year in which virtual during
person asset is transferred; digital|
(b) An individual or a HUF who does not have any income under the head profits and
gains of business or profession.

Any Other Income

10
1.2 where the person is not resident in India*

Section 192: Payment of Salary

Normal Slab Rate
2 Section 192A: Payment of accumulated balance of provident fund which is taxable in
the hands of an employee. 10

5 Section 194B: Income by way of winnings from lotteries, crossword puzzles, card
games and other games of any sort 30

Section 194BB: Income by way of winnings from horse races

30
Section 194E: Payment to non-resident sportsmen/sports association
20
Section 194EE: Payment in respect of deposits under National Savings Scheme
10
Section 194F:Payment on account of repurchase of unit by Mutual Fund or
Trust of India Unit 20

Section 194G: Commission, etc., on sale of lottery tickets

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 10/19/22, 3:33 PM TDS Rates
Section 194LB: Payment of interest on infrastructure debt fund
5
Sec. 194LBA(2): Payment of the nature referred to in
Section 1023FC a)
Section 194LBA(2): Payment of the nature referred to in Section 10(23FCb 10
Section 194LBA(3): Payment of the nature referred to in section 10(23FCA) by 30
business trust to unit holders
Section 194LBB: Investment fund paying an income to a unit holder [other than
income which is exempt under Section 10/23FBB)]. 30

Section 194LBC: Income in respect of investment made in a securitisation

(specified in Explanation of sectionl1STCA) trust 30

Section 194LC: Payment of interest by an Indian Company or a business trust n 5 or 4

respect of money borrowed in foreign currency under a loan agreement or by way o
issue of long-term bonds (including long-term infrastructure bond) In case where
interest is payable
in respect of
term Bond or
Long
Rupee
Denominated Bond
listed on recognised
stock exchange
located in IFSC
Section 194LD: Payment of interest on rupee denominated bond of an Indian
Company or Government securities to a Foreign Institutional Investor or a Qualified
Foreign Investor
Section 195: Payment of any other sum to a Non-resident
a) Income in respect of investment made by a Non-resident Indian Citizen
20
b) Income by way of long-term capital gains referred to in
Non-resident Indian Citizen Section l15E in case of a 10

c) Income by way of long-term capital gains referred to in sub-clause (ii) of clause 10

(c) of sub-Section (1) of Section 112

d) Income by way of long-term capital gains as referred to in Section 12A4

10
|e) Income by way of short-term capital gains referred to in Section lllA 15
) Any other income by way of
long-term capital gains [not being long-term capital
gains referred to in clauses 10(33), 10(36) and 12A 20

g) Income by way of interest payable by Government or an Indian

moneys borrowed or debt incurred by Government or the Indian concermconcem
in
on 20
foreign
currency (not being income by way of interest referred to in Section 194LB
Section 194LC) or
h) Income by way of royalty payable by Government or an
pursuance of an agreement made by it with the Government or the Indian concern in 10
where such royalty is in consideration for the transfer of all or any Indian concem
rights (including
the granting of a licence) in respect of copyright in any book on asubject
in the first proviso to sub-section (1A) of Section 115A of the referred to
Indian concern, or in Income-tax
respect of any computer software referred to in
Act, to the
proviso to sub-section (1A) of Section 115A of the Income-tax the second
resident in India Act, to a person
i) Income by way of royalty [not being
royalty of the
above] payable by Government or an Indian concem in nature referred to point h) 10
pursuance of an agreement
httns /lincnmatavindia nnv inlcharte ta'veetds rates htm
 10/19/22, 3:31 PM TDS Rales
made by it with the Government or the Indian concern and where such agreement is|
10 with an Indian concern, the agreement is approved by the Central Government or
where it relates to a matter included in the industrial policy, for the time being in
30 force, of the Government of India, the agreement is in accordance with that policy
j) Income by way of fees for technical services payable by Government or an Indian 10
30 concern in pursuance of an agreement made by it with the Government or the Indian
concern and where such agreement is with an Indian concern, the agreement is
approved by the Central Government or where it relates to a matter included in the|
30 industrial policy, for the time being in force, of the Government of India, the
agreement is in accordance with that policy
5 or 4*
k) Any other income 30
n case where
Section 196B: Income from units (including long-term capital gain on transfer of| 10
rest is payable such units) to an offshore fund
spect of Long-
Bond or Rupee| Section 196C: Income from foreign currency bonds or GDR of an Indian company
(including long-term capital gain on transfer of such bonds or GDR)
10

minated Bond
on recognised Section 196D: Income of foreign Institutional Investors from securities (not being 20
k exchange dividend orcapital gain arising from such securities)
ted in IFSSC Note: Tax shall be deducted at the rate provided under DTAA if same is lower than
the existing TDS rate of 20%.
2. In the case of a company-
|2.1 where the company is a domestic company-

Section 193: Interest on securities

20 a) any debentures or securities for money issued by or on behalf of any local 10
authority or a corporation established by a Central, State or Provincial Act;
10
|b) any debentures issued by a company where such debentures are listed on a 10
recognised stock exchange in accordance with the Securities Contracts (Regulation)
Act, 1956 (42 of 1956) and any rules made thereunder;
10
c) any security of the Central or State Government 10
[i.e. 8% Saving (Taxable) Bonds, 2003 and 7.75% Saving (Taxable) Bonds, 2018]
10
d) interest on any other security 10
15
Section 194: Dividend 10
20
Section 194A: Income by way of interest other than "Interest on securities" 10

20 Section 194B: Income by way of winnings from lotteries, crossword puzzles, card 30
games and other games of any sort

Section 194BB: Income by way of winnings from horse races 30

Section 194C: Payment to contractor/sub-contractor

a) HUF/Individuals
b) Others
Section 194D: Insurance commission 10

Section 194DA: Payment in respect of life insurance policy

50
httne /inromatavindia nnu in/charte tahlae/ide ratae htm
10/19/22, 3 33 PM
TDS Ratos
w.e.f. 1/9/2019, the tax shall be deducted on the amount of income
insurance pay-out comprised in|

Section 194EE: Payment in respect of deposit under National

Savings scheme 10
Section 194E: Payment on account of repurchase of unit Mutual
Trust of India by Fund or Unit| 20

Section 194G: Commission, ete., on sale of lottery tickets

Section 194H: Commission or brokerage
Section 194-1: Rent
| a) Plant & Machinery
2
b) Land or building or furniture or fitting
10
Section 194-1A:Payment on transfer of certain immovable property other than
agricultural land

Section_194-IC:Payment
Agreements
of monetary consideration under Joint
Development 10

Section 194J: Fees for professional or technical services:

iv) sum paid or payable towards fees for technical services 2
v) sum paid or
payable towards
distribution or exhibition of royalty
in the nature of consideration for sale,| 2
vi) Any other sum
cinematographic films;
10
Note: With effect from June 1, 2017 the rate
engaged in business of operation of call center.of TDS
would be 2% in case of payee
Section 194K;Income in respect of units payable to resident person
10
Section 194LA: Payment of compensation on acquisition of certain
property immovable| 10

Section 194LBA(I): Business trust shall deduct tax while distributing,

received or receivable by it from a SPV
any interest| 10
any income received from renting
or
or
|leasing or letting out any real estate asset owned
directly by it, to its unit holders.
Section 194LBB: Investment fund paying an income to a unit holder [other than| 10
income which is exempt under Sectio
10(23FBB)].
Section 194LBC: Income in respect of investment made in a securitisation trust
| (specified in Explanation of section115TCA) 10

Section 194M: Payment of commission (not being insurance

commission),
brokerage, contractual fee, professional fee to a resident person by an Individual 5%
or a
HUF who are not liable to deduct TDS under section 194C, 194H, or 194J.
Tax shall be deducted under
Section 194M with effect from 1/09/2019 when
aggregate of sum credited or paid during a financial year exceeds Rs. 50 lakh.

Section 194N: Cash withdrawal during the previous year from one or more
maintained by a person with a banking company, co-operative society account
business of banking or a post office: engaged in 2
i) in excess of Rs. I crore
2/5
iv) in excess of Rs. 20 lakhs*

nnv in/charte tahlegitne ratae htnm

httns llinnmatavindia
AM
 TDS Ratas
ho19/22, 3 : 3 1P M

nersons who have not filed return of income (ITR) for three previous
for thoseiately preceding the previous year in which cash is withdrawn, and the
y e a r si m m e d i a t e

under section 132) has expired. The deduction of tax under

ITR under
filing ITR
for filing
date
shall be at
the rate of:
due
his situation
0. from the amount WIthdrawn in cash if the aggregate of the amount of
2%
hdrawal exceeds Rs. 20 lakhs but not exceeding Rs. 1 crore during the
withdr

previous year; or

amount withdrawn in cash if the aggregate of the amount or

the
5% from
b) ithdrawal exceeds s. I crore during the previous year.
194-0: Payment or Credit of amount by the e-commerce operator to c
Section 194
commerce participant

by
total income
specified bank in case of senior citizen having age Tax rate in force
on
194P:
Section 194P Deduction of tax as per
more
or
of75 0.1
Caction 194Q: Payment to resident for purchase of goods of the aggregate value|
Rs. 50 lakhs
exceeding

Nate: TDS is deductible

on sum exceeding Rs. 50 lakhs
10

any benefit or perquisite is

of tax in case provided and
Section 194R: Deduction exceeds Rs. 20,000
aggregate value of such benefit/perquisite
perquisite should be arising from business or the exercise of a|
Note: Benefit or
such resident.
profession by

transfer of Virtual Digital Asset

Section 194S; Payment on
this provision in the following circumstance:
Note: No tax shall be deducted under
by any person (other than a specified person) and its|
If the consideration is payable
exceed Rs. 10,000 during the financial year.
aggregate value does not
and its aggregate value does not
by a specified person
if the consideration is payablefinancial
exceed Rs. 50,000 during the year.

Specified person means:

total sales, gross receipts or turnover does not|

(a) An individual or a HUF, whose 50 lakhs in case of a profession, during
exceed Rs. l crore in case of business or Rs.
the financial year in which virtual digital|
the financial year immediately preceding
asset is transferred,

HUF who does not have any income under

the head profits and
6) An individual or a
gains of business or profession.
10
Any Other Income
|44 Where the company is not a domestic company-
croSSword puzzles, card 30
ECion 194B: Income by way of winnings from lotteries,
games and other games of any sort
30
aCuon 194BB: Income by way of winnings from horse races

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innmatavindia nnv inlcharte tahleetde rataa him
 association

Section 19AE: Payment to non-resident sports

tickets
Section 194G: Commission, ete. sale of lottery on

frastructure
debt fund
Section 1941B: Payment ofinterest on LQ(23FCX1)

to in Section
of the nature
refèrred
10
Section 194LBA(2): Paymer -

10(23FCXb)

referred to in Section 40
any income
ture
Section 194LBA(2): ayment of the distributing
tax while
owned directly
by
shall deduct
Section 194LBA(): Business trust O u t any
real estate
asset

received from renting or leasing or letting 40

it to its unit holders. holder [other than
unit
income to a
an
Section 1941BB: Investment
10(233BE)J. 40
income which is exempt under Section
urUst
securitisation
investment made in a
Income in respect of
o n 94LBC: 5 or 4*
(specified in Explanation ofsection11STCA) Company or a
business trust în
by an Indian
Section 194LC: Payment of interest currency loan agreement or by way
o
*
In case where
under a
borrowed in foreign
spect of money bonds (including long-term infrastructure bond) interest is payable
ISsue of long-term in respect of Long.
term Bond or Rupee
Denominated Bond
listed on recognised|
stock exchange
located in IFSC

bond of an Indian
interest rupee denominated
Section 194LD:Payment of
on

Government securities to a Foreign Institutional

Investor or a Qualified
Company or
Foreign Investor

Section 195: Payment of any other sum

referred to in sub-clause (iii) of clause 10
a) Income by way of long-term capital gains
(c) of sub-section (1) of Section l12
b) Income by way of long-term capital gains as referred to in Section 112A 10
c) Income by way of short-term capital gains referred to in Section 111AA 15

d) Any other income by way oflong-term capital gains [not being long-term capital 20
gains refered to in clauses 10(33), 10(36) and 112A
e) Income by way of interest payable by Government or an Indian concern on moneys 20
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)

Income by way of royalty payable by Government or an Indian concern in 10

pursuance of an agreement made by it with the Government or the Indian concern
after the 31st day of March, 1976 where such royalty is in consideration for the
transfer of all or any rights (including the granting of a licence) in respect of
copyright in any book on a subject referred to in the first proviso to sub-section (1A)
of Section 115A of the Income-tax Act, to the Indian concern, or in respect of
Computer software referred to in the second proviso to sub-section any
115A of the Income-tax Act, to a person resident in India
(1A) of Section
g) Income by way of royalty .not being royaity of the nature referred to in naint A.
abovel payable by Governmeint or an Indian concern in pursuance of
made by it with the Government or the Indian concem and where an agreement
such agreement is
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 conem, the ayreenment is
dian connem.
indian

relates to a matter inchaded in theappved by the t'entml tovemment

an
at
wre relat
intusthial pollev, lur the lne lbelng in
the Govermnment of India, the agreenment is
An ofthe in aeenlanee witlh that polley
A.whre the ement is made after the 3lst day or MMareh,
1976
96l but belure the lat
dtyofAprl,
B.wherethe agreement is made after the 31st day ot Mareh, 1976
ome by way of fees for technical services
payable by Clovermment or An Indlan|
min pursuance of an agreement made by it with the Covemment or the Indlan |
m and where such agreenment is with an Indinn coneem, the
yoeroved by the Central Govemment or where it relates to a matter
ngrenent 8
inelhuded
industrial policy, for the time being in forve, of the Govement of India,
In the

sgreement is in accordance with that policy

the|
where the agreement is made after the 29th day of February, 1964 but befbre the 50
1976
ist day of April,
B. where the agreement is made after the 31st day of March, 1976 10
A0
) Any other income
Section 196B: Income from units (including long-tem capital gain on transfer of 10
such units) to an offshore fund
Section 196C: Income from foreign curreney bonds or GDR of an Indian company
(including long-term capital gain on transfer ofsuch bonds or CIDR)

Section 196D: Income of foreign Institutional Investors from securitiex (not belug 20
dividend or capital gain arising from such securities)

Note: Tax shall be deducted at the rate provided under DTAA ifsame is lower than
the existing TDS rate of 20%.

and Health & Education oows,

The rate of TDS shall be increased by applicable surcharge

As amended by Finanee Act, 2022