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Stay compliant with TDS regulations as in case of non-deduction or wrong deduction and even deduction under wrong TDS section could attract huge penalties. It’s important that businesses know the applicable rate, TDS section and exempt limit for each nature of payment. This comprehensive TDS rate chart for FY 2024-25 provides detailed information on thresholds, rates, and applicable sections for different types of payments. Also Read: Everything about TDS Return Filing

TDS Section List Nature of Payment Threshold Individual or HUF Others
192 Payment in form of salary ₹ 2,50,000 Slab Rates Slab Rates
192A

(Note 1)

Employee Provident Fund withdrawal prematurely/early ₹ 50,000 10% 10%
193 Interest earned on securities including listed debentures ₹ 10,000 10% 10%
194 Payment of dividends by domestic Co. ₹ 5,000 10% 10%
194A Interest on deposits from banks or post offices ₹ 40,000
₹ 50,000(senior citizens)
10% 10%
Interest income other than securities ₹ 5,000 10% 10%
194B Winnings of lotteries, puzzles, or games (Casual income) Aggregate of ₹ 10,000 30% 30%
194BA Winnings from online Games 30% 30%
194BB Winnings from Horse races ₹ 10,000 30% 30%
194C Payments made to contractors or sub-contractors (one time) ₹ 30,000 1% 2%
Payments made to contractors or sub-contractors on an aggregate basis ₹ 1,00,000 1% 2%
194D Commission paid on insurance sales to domestic companies ₹ 15,000 Not Applicable 10%
Commission paid on insurance sales to non-domestic companies ₹ 15,000 5% Not Applicable
194DA Maturity of life insurance policy ₹ 1,00,000 5% 5%
194EE Payment received from the National Savings Scheme by individuals ₹ 2,500 10% 10%
194F Repurchase of units by Unit Trust of India or any mutual fund No Limit 20% 20%
194G Payments or commission made from the sale of lottery tickets ₹ 15,000 5% 5%
194H Commission or brokerage fees ₹ 15,000 5% 5%
194I Rent paid for land, building, or furniture ₹ 2,40,000 10% 10%
Rent paid for plant and machinery 2% 2%
194IA Payment for the transfer of immovable property excluding agricultural land ₹ 50,00,000 1% 1%
194IB Rent payment made by an individual or HUF not covered under section 194I ₹ 50,000 (per month) 5% Not Applicable
194IC Payments made under a Joint Development Agreement to I / HUF No Limit 10% 10%
194J Fees paid for professional and technical services (doctor/CA etc) ₹ 30,000 10% 10%
Royalty paid for the sale, distribution, or exhibition of cinematographic films ₹ 30,000 2% 2%
194K Income received from units of a mutual fund, such as dividends ₹ 5,000 10% 10%
194LA Compensation for acquiring certain immovable property ₹ 2,50,000 10% 10%
194LB Interest on infrastructure bonds to Non-Resident Indians Not Applicable 5% 5%
194LBA(1) Distribution of certain income by a business trust to its unit holders Not Applicable 10% 10%
194LD Interest payment on rupee-denominated bonds, municipal debt security, and government securities Not Applicable 5% 5%
194M

(Note 2)

Payments made for contracts, brokerage, commission, or professional fees excluding sections 194C, 194H, 194J- Individual/HUF ₹ 50,00,000 5% 5%
194N

(Note 3)

Cash withdrawal exceeding a specified amount from the bank, with filed ITR ₹ 1,00,00,000 2% 2%
When ITR is not filed ₹ 20,00,000 2% then 5% after 1cr on slab basis 2% then 5% after 1cr on slab basis
194O Amount received for the sale of products/services by e-commerce service providers through digital platforms ₹ 5,00,000 1% 1%
194P Senior citizen above 75 yr of age having salary and interest Income, ITR not required Not Applicable Slab rates Not Applicable
194Q Payments made for the purchase of goods ₹ 50,00,000 0.10% 0.10%
194R Perquisite provided ₹ 20,000 10% 10%
194S TDS on the payment of cryptocurrencies or other virtual assets Not Applicable 1% 1%
206AA TDS applicable in case of non-availability of PAN Not Applicable At a higher rate than:
-2X the rate specified by the act
-20%
-The currently applicable rate
At a higher rate than:
-2X the rate specified by the act
-20%
-The currently applicable rate
206AB TDS on non-filers of Income Tax Return Not Applicable The higher of:

-5%

-2X the rate mentioned in the provision

-The currently applicable rate

The higher of:

-5%

-2X the rate mentioned in the provision

-The currently applicable rate

Notes:

1. As per Section 192A TDS rate on PF withdrawal for employees without PAN reduced to 20% from the maximum marginal rate.

2. Some sections apply only if gross receipts from profession exceeds ₹ 50 lac and from business exceeds ₹ 1 crore

3. As per Section 194N Increased TDS threshold for cash withdrawal by co-operative societies. From April 1st, 2023

TDS will be deducted on cash withdrawals exceeding Rs 3 crore, up from the previous limit of Rs 1 crore.

4. Section 196A:Non-residents earning income from mutual funds in India can provide a Tax Residency Certificate starting April 1st, 2023, to avail the TDS benefit as per the rate specified in the tax treaty, instead of the standard 20% rate.

5. Section 195 is for non-residents

This is the brief summary of TDS sections

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Author Bio

CA Aman Rajput, Practicing Chartered Accountant Contact me at 8209604735 Email ID aman.rajput @ mail.ca.in Area of practice:- Income tax, Audit, Company/LLP Incorporation or closure, Business consultancy, cost management, Financing, Startups, MSME, Finance, Virtual CFO, GST and forensics a View Full Profile

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8 Comments

  1. Murali says:

    Service rendered in 15th March 2024 and TDS LDC valid up to 31st March 2024, but the invoice booked in April 2024. which TDS rate is applicable

  2. CA Aman Rajput says:

    TDS liability under Section 194S is applicable when the payment for the transfer of VDA exceeds Rs 50,000 during the financial year in the case of a specified person and Rs 10,000 in other cases

    Specified person?
    An individual or a HUF who does not have income from business or profession

  3. CA Aman Rajput says:

    I will be updating TDS sections for NRI and TCS sections by the end of this month, will share you the link under this post! It may be on this platform, haven’t decided yet!

    ULPI will be taxable if the amount invested is more than 2.5 lac

  4. Hemraj Jethanandani says:

    Can I have TDS rate chart for NRI under sect 195?
    What would be TDS for ULIP where more than 90% invested in equities?
    After partion in 1947 my Parents migrated to Ajmer and we were living in Nalla Bazaar. I am retired and living in USA with my Sons Hemraj

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