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TDS Rate Charts for the FY 2023-24

Section

Deductee* 
 

Nature of transaction

Threshold Limit (Rs)

TDS Rate

192

R, NR

Payment of salary

Basic exemption limit of employee

Normal Slab Rates

192A

R, NR

Premature withdrawal from EPF

50,000 

10%  

Budget 2023: TDS rate for EPF withdrawals without a PAN number is now 20%, from the previous maximum marginal rate

193

R

Interest on securities

Debentures- 5,000  

8% Savings (Taxable) Bonds 2003 or 7.75% Savings (Taxable) Bonds 2018- 10,000  

Other securities- No limit

10% 
Budget 2023: Exemption of TDS on interest from listed debentures has been removed. Therefore, tax has to be deducted on interest on such specified securities.

194

R

Payment of any dividend

5,000

10%

194A

R

Interest from other than interest from securities (from deposits with banks/post office/co-operative society)

Senior Citizens- 50,000  

Others- 40,000

10%

194A

R

Interest from other than interest on securities u/s 193 and interest from banks/post office/co-operative society. 

For e.g., interest from friends and relatives

5,000

10%

194B

R, NR, FC

Income from lottery winnings, card games, crossword puzzles, and other games of any type

Aggregate income from lottery winnings, card games, crossword puzzles etc- 10,000 

Online Gamine- Refer 194BA

30%

194BA

R, NR, FC

Income from online games

Nil

30%

194BB

R, NR, FC

Income from horse race winnings

10,000 
Aggregate winnings during a financial year not single transaction

30%

194C

R

Payment to contractor/sub-contractor:-

Single transaction- 30,000 

Aggregate transactions- 1,00,000

 

 

 

a) Individuals/HUF

 

1%

 

 

b) Other than Individuals/HUF

 

2%

194D

R

Insurance commission to:

 

 

 

 

a) Domestic Companies

15,000

10%

 

 

b) Other than companies

15,000

5%

194DA

R

Income for the insurance pay-out, while payment of any sum in respect of a life insurance policy.

1,00,000

5%

194E

NR, FC

Payment to non-resident sportsmen/sports association

No limit


20% 
*This rate shall be increased by applicable surcharge and 4% cess

194EE

R, NR

Payment of amount standing to the credit of a person under National Savings Scheme (NSS)

2,500

10%

194F

R, NR

Payment for the repurchase of the unit by Unit Trust of India (UTI) or a Mutual Fund

No limit

20%

194G

R, NR, FC

Payments, commission, etc., on the sale of lottery tickets

15,000

5%

194H

R

Commission or brokerage

15,000

5%

194-I

R

Rent:

 

 

 

 

194-I(a) Rent on 
plant and machinery

2,40,000

2%

 

 

194-I(b) Rent on 
land/building/furniture/fitting

2,40,000

10%

194-IA

R

Payment in consideration of transfer of certain immovable property other than agricultural land.

50,00,000

1%

194-IB

R

Rent payment by an individual or HUF not covered u/s. 194-I

50,000 per month

5%

194-IC

R

Payment under Joint Development Agreements (JDA) to Individual/HUF

No limit

10

194J

R

Any sum paid by way of fee for professional services

30,000

10%

194J

R

Any sum paid by way of remuneration/fee/commission to a director

30,000

10%

194J

R

Any sum paid for not carrying out any activity concerning any business;

30,000

10%

194J

R

Any sum paid for not sharing any know-how, patent, copyright, etc.

30,000

10%

194J

R

Any sum paid as a fee for technical services

30,000

2%

194J

R

Any sum paid by way of royalty towards the sale or distribution, or exhibition of cinematographic films

30,000

2%

194J

R

Any sum paid as fees for technical services, but the payee is engaged in the business of operation of the call center.

30,000

2%

194K

R

Payment of any income for units of a mutual fund, for example, dividend

No limit

10%

194LA

R

Payment in respect of compensation on acquiring certain immovable property

2,50,000

10%

194LB

NR, FC

Payment of interest on infrastructure debt fund to Non-Resident

No limit


5% 
*This rate shall be increased by applicable surcharge and 4% cess

194LC

NR, FC

Payment of interest for the loan borrowed in foreign currency by an Indian company or business trust against loan agreement or the issue of long-term bonds

No limit

5%

194LC

NR, FC

Payment of interest for the loan borrowed in foreign currency by an Indian company or business trust against the issue of long-term bonds listed in IFSC

No limit

4%

194LD

NR, FC

Payment of interest on bond (rupee-denominated) to FII or a QFI

No limit

5%

194LBA(1)

R

Certain income distributed by a business trust to its unitholder

No limit

10%

194LBA(2)

NR, FC

Interest income of a business trust from SPV distribution to its unitholders

No limit

5%

194LBA(2)

NR, FC

Dividend income of a business trust from SPV, in which it holds the entire share capital exempt the capital held by the government, and distribution to its unitholders

No limit

10%

194LBA(3)

NR

Rental income payment of assets owned by the business trust to the unitholders of such business trust

No limit

30%

194LBA(3)

FC

Rental income payment of assets owned by the business trust to the unitholders of such business trust

No limit

40%

194LBB

R, NR

Certain income paid to a unitholder in respect of units of an investment fund

No limit

10%

194LBB

FC

Certain income paid to a unitholder in respect of units of an investment fund

No limit

40%

194LBC

R

Income from investment in securitisation fund received to an individual and HUF

No limit

25%

194LBC

R

Income from investment in securitisation fund received to a domestic company

No limit

10%

194LBC

FC

Income from investment in securitisation fund received to a foreign company

No limit

40%

194LBC

NR

Income from investment in securitisation fund received to NRI

No limit

10%

194M

R

Certain payments by Individual/HUF not liable to deduct TDS under Section 194C, 194H, and 194J

50,00,000

5%

194N

R, NR

Cash withdrawal exceeding a certain amount

Co-operative society: 3 Crore 
Others: 1 crore

2%

194N

R, NR

Cash withdrawal in case person not filing ITR for last three years and the original ITR filing due date expired

– 20 lakh to 1 crore 

-1 crore




2% 
5% 
*If cash is withdrawn by a co-operative society the limit shall be Rs 3 Crore instead of Rs 1 Crore 

194O

R

Payment for the sale of goods or provision of services by the e-commerce operator through its digital or electronic facility or platform.

5,00,000

1% 
5% in case PAN is not furnished

194P

R

Payment of pension or interest to specified senior citizens of age 75 years or more

Basic exemption limit of senior citizens or super senior citizens

Normal tax slab rates

194Q

R

Payments for the purchase of goods

50,00,000

0.10%

194R 
(Refer notes)

R

Perquisite or benefit to a business or profession

20,000

10%

194S 
(Refer notes)

R

TDS on the transfer of virtual digital assets

Specified Persons- 50,000 

Others- 10,000

1%

195

NR

Income on investments made by NRI citizen

No limit

20%

195

NR

Income by way of LTCG referred to in section 115E in the case of NRI

No limit

10%

195

NR, FC

Income by way of LTCG under section 112(1)(c)(iii)

No limit

10%

195

NR, FC

Income by way of LTCG under section 112A

No limit

10%

195

NR, FC

Income by way of STCG under section 111A

No limit

15%

195

NR, FC

Any other income by way of LTCG

No limit

20%

195

NR, FC

Interest payable on money borrowed by the government or Indian concern in foreign currency

No limit

20%

195

NR, FC

Income from royalty payable by the Indian concern or the government, for the copyright in a subject referred in the first proviso of section 115A or computer software referred to in the second proviso of section 115A

No limit

10%

195

NR

Income from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy

No limit

10%

195

FC

Income from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy 

If the agreement for such royalty payment is entered in between 31st March 1961 and 1st April 1976

No limit

50%

195

FC

Income from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy 

If the agreement for such royalty payment is entered after 31st March 1976

No limit

10%

195

NR

Income from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy

No limit

10%

195

FC

Income from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy 

If the agreement for such payment is entered in between 29th February 1964 and 1st April 1976

No limit

50%

195

FC

Income from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy 

If the agreement for such payment is entered after 31st March 1976

No limit

10%

195

NR

Any other income

No limit

30%

195

FC

Any other income

No limit

40%

196B

NR, FC

Income (including LTCG) from units of an offshore fund

No limit

10%

196C

NR, FC

Income (including LTCG) from foreign currency bonds or GDR of an Indian company

No limit

10%

196D

NR, FC

Income (excluding dividend and capital gain) from Foreign Institutional Investors.

No limit

20%

206AB

R

Payment to non-filers, i.e. those who have not filed their income tax return in the last year 

Budget 2023: 
Non filers do not include: 
– People who are not required to file their ITRs 
– NRs who do not have a PE in India

No limit

– 2 times the rate given in the Income Tax Act or Finance Act or 
– 5%, whichever is higher

206AA

R, NR, FC

TDS rate in case of Non availability of PAN

No limit

Rates specified above or 20%, whichever is higher

*”R” denotes Resident,  
“FC” denotes Foreign company, and 
“NR” denotes Non-Resident.

 

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