TDS Section List 2023-24
TDS or Tax Deducted at Source is income tax reduced from the money paid at the time of making specified payments such as rent, commission, professional fees, salary, interest, etc. by the persons making such payments. Any person making specified payments mentioned under the Income Tax Act is required to deduct TDS at the time of making such specified payments. If you are searching TDS Rate Chart FY 2023-24 (AY 2024-25) in PDF format then you have arrived at the right website and you can directly download the TDS Rate Chart For Ay 2024-25 PDF from the link given at the bottom of this page.
TDS Rate Chart FY 2023-24 PDF is applicable from 1st April 2023.TDS or tax deducted at source is a process of collecting Income Tax at source by the GOI (Government of India). It is a deduction of tax from the original source of income. It is essentially an indirect method of collecting the tax that combines the concepts of “pay as you earn” and “collect as it is being earned.”.
TDS Rate Chart FY 2023-24 (TDS Section List 2023-24)
| Nature of Payment | Basic Cut off (Rs) | Individual /Company and others New Rate %) | If No Pan or Invalid PAN (Rate %) |
| 192 – Salaries | Slab Rate | Slab Rates | 30% |
| 192A- Premature withdrawal from Employee Provident Fund (Note 1) | 50,000 | Individual: 10% Company: NA | 20% |
| 193 – Interest on securities (Note 2 & 3) | 2,500 | Individual: 10% Company: 10% | 20% |
| 194 – Dividend other than the dividend as referred to in Section 115-O | 5,000 | Individual: 10% Company: 10% | 20% |
| 194A – Interest other than interest on securities – Banks Time deposits, Recurring deposit and Deposit in Co-op Banks (Note 3) | 40,000 (for individual) 50000 (for Senior Citizens) | Individual: 10% | 20% |
| 194B – Winning from Lotteries | 10,000 | Individual: 30% Company: 30% | 30% |
| 194BA – Winnings from Online Gaming (Note 16) | Amount of net winnings comprised in withdrawal |
Individual: 30% Company: 30% | 30% |
| 194BB – Winnings from Horse Race | 10,000 | Individual: 30% Company: 30% | 30% |
| 194C- Payment to Contractor – Single Transaction (Note 4) | 30,000 | Individual: 1% Company: 2% | 20% |
| 194C-Payment to Contractor – Aggregate During the Financial year (Note 4) | 1,00,000 | Individual: 1% Company: 2% | 20% |
| 194C- Contract – Transporter not covered under 44AE (Note 4) | 30,000 / 75,000 | Individual: 1% Company: 2% | 20% |
| 194C- Contract – Transporter covered under 44AE & submit declaration on prescribed form with PAN | – | – | 20% |
| 194D – Insurance Commission | 15,000 | Individual: 5% Company: 5% | 20% |
| 194DA Payment in respect of life insurance policy (Note 5) | 1,00,000 | Individual: 5% Company: 5% | 20% |
| 194E – Payment to Non-Resident Sportsmen or Sports Association | – | Individual: 20% Company: 20% | 20% |
| 194EE – Payments out of deposits under National Savings Scheme | 2,500 | Individual: 10% Company: 10% | 20% |
| 194F – Repurchase Units by MFs | – | Individual: 20% Company: 20% | 20% |
| 194G – Commission – Lottery | 15,000 | Individual: 5% Company: 5% | 20% |
| 194H – Commission / Brokerage | 15,000 | Individual: 5% Company: 5% | 20% |
| 194I – Rent – Land and Building – furniture – fittings | 2,40,000 | Individual: 10% Company: 10% | 20% |
| 194I – Rent – Plant / Machinery / equipment | 2,40,000 | Individual: 2% Company: 2% | 20% |
| 194IA -Transfer of certain immovable property other than agriculture land | 50,00,000 | Individual: 1% Company: 1% | 20% |
| 194IB – Rent – Land or building or both | 50,000 per month | Individual: 5% | 20% |
| 194IC – Payment of Monetary consideration under Joint development agreement | – | Individual: 10% Company: 10% | 20% |
| 194J – Professional Fees for technical services (w.e.f. from 1.4.2020) (Note 6) | 30,000 | Individual: 2% Company: 2% | 20% |
| 194J – Professional Fees in all other cases | 30,000 | Individual: 10% Company: 10% | 20% |
| 194K- Payment of any income in respect of Units of Mutual fund as per section 10(23D) or Units of administrator or from a specified company (Note 7) | – | Individual: 10% Company: 10% | 20% |
| 194LA – TDS on compensation for compulsory acquisition of immovable Property (Note 8) | 2,50,000 | Individual: 10% Company: 10% | 20% |
| 194 LBA (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 unit holders. (Note 9) | Individual: 10% Company: 10% | 20% | |
| 194LB – Income by way of interest from infrastructure debt fund (non-resident) | – | Individual: 5% Company: 5% | 20% |
| 194LBB – Income in respect of investment in Securitisation trust. | – | Individual: 10% Company: 30% | 30% |
| 194LBC- Income in respect of investment made in a securitisation trust | – | Individual: 25% Company: 30% | 30% |
| 194 LC – Income by way of interest by an Indian specified company to a non-resident / foreign company on foreign currency approved loan / long-term infrastructure bonds from outside India (Note 10) | – | Individual: 5% Company: 5% | 20% |
| 194LD – Interest on certain bonds and govt. Securities (Note 11) | – | Individual: 5% Company: 5% | 20% |
| 194M – Payment of Commission, brokerage, contractual fee, professional fee to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J. | 50,00,000 | Individual: 5% Company: 5% | 20% |
| 194N – Cash withdrawal in excess of Rs. 20 Lakh 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. | 20,00,000 | Individual: 2% Company: 2% | 20% |
| 194N – Cash withdrawal in excess of Rs. 1 crore 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. (Note 12) | 100,00,000 | Individual: 2% Company: 2% | 20% |
| 194N – Cash withdrawal in excess of Rs. 3 crore during the previous year from one or more account maintained by a Co operative society with a banking company, co-operative society engaged in business of banking or a post office. (Note 15) | 300,00,000 | Co-operative Society : 5% | 20% |
| 194O – Applicable for E-Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform. | – | Individual: 1% Company: 1% | 20% |
| 194P- TDS by specified bank to specified senior citizen | – | Rates applicable to particular slab of income including applicable Surcharge and Health & Education Cess | |
| 194Q- Purchase of goods | 50,00,000 | 0.1% | |
| 194R- Deduction of tax on benefit of perquisite in respect of business or profession | Resident Indiviual: 20,000 | 10% | |
| 194S- Transfer of a virtual digital asset | Resident Individual & HUF: 50,000
Others: 10,000 |
1% | |
| 195- Payment of any sum to Non resident | – | – | Higher of Rate in force or Double Taxation Avoidance Act rate |
| 196B – Income from units | – | Individual: 10% Company: 10% | 20% |
| 196C-Income from foreign currency bonds or GDR (including long-term capital gains on transfer of such bonds) (not being dividend) | – | Individual: 10% Company: 10% | 20% |
| 196D – Income of FIIs from securities | – | Individual: 20% Company: 20% | 20% |
TDS Rates Applicable for a company other than a Domestic Company
| Particulars | TDS Rate (%) | TDS Rates from 01.04.2020 to 13.05.2020 | TDS Rates from 14.05.2020 to 31.03.2021 |
|---|---|---|---|
| Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort | 30 | 30 | 30 |
| Section 194BB: Income by way of winnings from horse races | 30 | 30 | 30 |
| Section 194E: Payment to the non-resident sports association | 20 | 20 | 20 |
| Section 194G: Commission, etc., on the sale of lottery tickets | 5 | 5 | 5 |
| Section 194LB: Payment of interest on infrastructure debt fund | 5 | 5 | 5 |
| Section 194LBA: Certain income distributed by a business trust to its unit holder | 5 | 5 | 5 |
| Section 194LBC: Income in respect of securitization of funds | 40 | 40 | 40 |
| Section 194LC: Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond) | 5 | 5 | 5 |
| 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 | 5 | 5 | 5 |
| Section 195: Payment of any other sum) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-section (1) of Section 112 | 10 | 10 | 10 |
| b) Income by way of short-term capital gains referred to in Section 111A | 15 | 15 | 15 |
| c) Any other income by way of long-term capital gains [not being long-term capital gains referred to in clauses (33), (36) and (38) of Section 10] | 20 | 20 | 20 |
| d) Income by way of interest payable by Government or an Indian concern on money 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 | 20 | 20 |
| e) Income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such royalty is in consideration for the transfer of all or any rights (including the granting of a license) 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 any computer software referred to in the second proviso to sub-section (1A) of Section 115A of the Income Tax Act, to a person resident in India | 10 | 10 | 10 |
| f) Income by way of royalty [not being royalty of nature referred to in sub-item (b)(iv)] payable by Government or an Indian 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 industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy— | 10 | 10 | 10 |
| A. where the agreement is made after the 31st day of March 1961 but before the 1st day of April 1976. B. where the agreement is made after the 31st day of March 1976 |
50
10 |
50
10 |
50
10 |
| g) Income by way of fees for technical services payable by Government or an Indian 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 industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy— | |||
| A. where the agreement is made after the 29th day of February 1964 but before the 1st day of April, 1976 B.where the agreement is made after the 31st day of March 1976 Any other income |
50
10 |
50
10 |
50
10 |
| Section 196B: Income from units (including long-term capital gain on transfer of such units) to an offshore fund | 10 | 10 | 10 |
| 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 | 10 | 10 |
| Section 196D: Income of foreign Institutional Investors from securities (not being dividend or capital gain arising from such securities) | 20 | 20 | 20 |
New Income Tax Slab Regime
| Particulars | New Tax Regime for AY 2021-22 to AY 2023-24 | New Tax Regime for AY 2024-25 and onwards |
|---|---|---|
| No. of Slabs Rates | Six | Five |
| Basic Tax Exemption | Upto 2,50,000 | Upto 3,00,000 |
| Applicability | Individuals, HUF | Individuals, HUF, AOP – other than co-operative society, BOI, AJP |
| Default Regime | Old Regime | New Regime |
| Standard Deduction of 50,000 | Not available | Available |
| Deduction upto 15,000 u/s.57 (iia) for Family Pension | Not available | Available |
| Rebate u/s.87A | Upto 5,00,000 | Upto 7,00,000 |
| Maximum Rebate u/s.87A | 12,500 | 25,000 |
| Highest Surcharge Rate | 37 percent | 25 percent |
Old Income Tax Slab Rate
| Net Income Range | Rate of Income Tax |
|---|---|
| Up to Rs. 2,50,000 | – |
| Rs. 2,50,000 to Rs. 5,00,000 | 5% |
| Rs. 5,00,000 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
You can download the TDS Rate Chart FY 2023-24 PDF using the link given below.
