TDS Rate Chart for FY 2022-23 | AY 2023-24 | Updated Chart
TDS Rate Chart for FY 2022-23: New TDS rate chart is published every year by Income Tax Department under Income Tax Act 1961. Before getting used to TDS rate chart, let’s explain some basic concepts of TDS.
What is TDS (Tax Deducted at Source)?
The concept of TDS (Tax Deducted at Source) is a mechanism introduced by the ‘Income Tax Department’ with an aim to collect TDS from the very source of income. It is a direct tax. ‘As per this mechanism, a person (Deductor) is responsible to make specified payments such as Salary, Commission, Professional fees, Interest on fixed deposit, Rent, etc to any other person (Deductee) and if the payable amount comes under any TDS sections, then Deductor will be liable to deduct TDS on the taxable amount and deposit the same into the account of the Central Government.
Who is Deductor & Deductee?
Deductor: Is a person who deducts the tds.
Deductee: Is a person whose tax is deducted.
What is a TDS Certificate?
After deducting TDS, the deductor issued a TDS certificate to the deductee.
Types of TDS Certificate?
- Form-16 – TDS on Salary payment
- Form-16A – TDS on non-salary payments
- Form-16B – TDS on sale of property
- Form-16C – TDS on rent
What is Form 26AS?
It is a consolidated tax statement also called an annual statement. When a deductor deposits the tax collected by a deductee to the Income Tax Department, it reflects in Form 26AS. You can simply download this from the Income Tax Department’s e-filing website.
TDS Rate Chart for FY 2022-23 | AY 2023-24
| Section | Nature of Payment | Threshold Limit | TDS Rate(%) | If No Pan or Invalid Pan (%) |
|---|---|---|---|---|
| 192 | Salary Income | Income Tax Slab | Slab rates | 30% |
| 192A | EPF- Premature withdrawal | Rs. 50,000 | Individual 10% Company NA | 20% |
| 193 | Interest on Government securities | Rs. 10,000 | Individual 10% Company 10% | 20% |
| 194 | Dividend (Dividend other than a listed company) | Rs. 5,000 | Individual 10% Company 10% | 20% |
| 194A | Interest by banks or post office other than by securities | (Rs. 40,000 for individual) & (Rs. 50,000 for Senior Citizens) | 10% | 20% |
| 194B | Winning from Lotteries/Puzzles/Games | Rs. 10,000 | Individual 30% Company 30% | 30% |
| 194BB | Winnings from Horse Race | Rs. 10,000 | Individual 30% Company 30% | 30% |
| 194C | Payment to Contractor Single Transaction Payment to Contractor Aggregate during the financial year | Rs. 30,000 Rs. 1,00,000 | Individual 1% Company 2% Individual 1% Company 2% | 20% 20% |
| 194D | Payment of Insurance Commission | Rs. 15,000 | Individual 5% Domestic Company 10% | 20% |
| 194DA | Maturity of life insurance policy | Rs. 1,00,000 | 5% | 20% |
| 194E | Payment to Non-Resident Sportsmen/Sports Association | Rs. 0 | 20% + Cess | 20% |
| 194EE | Payments of deposits under the National Savings Scheme | Rs. 2,500 | Individual 10% Company 10% | 20% |
| 194F | Repurchase units by Mutual Funds | No Limit | 20% | 20% |
| 194G | Commission on Lottery tickets | Rs. 15,000 | Individual 5% Company 5% | 20% |
| 194H | Commission on Brokerage | Rs. 15,000 | Individual 5% Company 5% | 20% |
| 194I | Rent of Land, Building and Furniture | Rs. 2,40,000 | Individual 10% Company 10% | 20% |
| 194I | Rent of Plant, Machinery and Equipment | Rs. 2,40,000 | Individual 2% Company 2% | 20% |
| 194IA | Transfer of immovable property other than agricultural land | Rs. 50,00,000 | Individual 1% Company 1% | 20% |
| 194IB | Other rent | Rs. 50,000 per month | Individual 5% Company 5% | 20% |
| 194IC | Payment of Monetary consideration under the joint development agreement | Rs. 0 | Individual 10% Company 10% | 20% |
| 194J | Professional fees or technical services Payment to FTS, Certain Royalties, and Call Centre Operator | Rs. 30,000 Rs. 30,000 | Individual 10% Company 10% Individual 2% Company 2% | 20% 20% |
| 194K | Income in respect of units (UTI/MF) | Rs. 0 | 10% | 20% |
| 194LA | TDS on compensation for compulsory acquisition of immovable property(Annexure-13) | Rs. 2,50,000 | Individual 10% Company 10% | 20% |
| 194LB | Income by way of interest from infrastructure debt fund (Non-Resident) | NA | 10% | 20% |
| 194LBB | Income in respect of investment in Securitisation trust | No Limit | Individual 10% Company 30% | 30% |
| 194LBC | Income in respect of investment made in a securitization trust | No Limit | Individual 25% Company 30% | 30% |
| 194LC | 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 of India | No Limit | 5% | 20% |
| 194LD | Interest on certain bonds and Govt. Securities | NA | 5% | 20% |
| 194M | Payment of Commission, contractual fee, the 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 | Rs. 50 Lakh | 5% | 20% |
| 194N | Cash withdrawal from bank and filed ITR | Rs. 1 Crore | 2% | 20% |
| 194N | Cash withdrawal from bank and not filed ITR | Rs. 20 Lakh | 2% | 20% |
| 194O | Applicable for E-Commerce operator for the sale of goods or provision of service facilitated by it through its digital or electronic facility or platform (Applicable from 01-10-2020) | Rs. 5 Lakh | 1% | 20% |
| 194P | 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 | Purchase of goods (Applicable from 1-July-2021) | Rs. 50 Lakh | 0.10% | |
| 194R | Benefits or perquisites arising from business or profession | Rs. 20,000 | 10% | |
| 194S | TDS on payment for Virtual Digital Assets or crypto currency (w.e.f. 01.07.2022) | Specified Persons Rs. 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 (including long-term capital gain on transfer of such units) to an offshore fund | No Limit | 10% | 20% |
| 196C | Income from foreign currency bonds or GDR (including long-term capital gains on transfer of such bonds) (not being dividend) | No Limit | 10% | 20% |
| 196D | Income of FIIs (Foreign Institutional Investors) from securities | No Limit | 20% | 20% |
TDS Rate Chart for FY 2022-23 PDF Download
Related Article:
TDS Rate Chart for FY 2021-22 & AY 2022-23
Income Tax TDS Rate Chart for FY 2021-22 & AY 2022-23
| Section | Nature of Payment | Threshold Limit | TDS Rate(%) | If No Pan or Invalid Pan (%) |
|---|---|---|---|---|
| 192 | Salary Income | IncomeTax Slab | Slab rates | 30% |
| 192A | Premature withdrawal from Employee Provident Fund | 50,000 | Individual 10% Company NA | 20% |
| 193 | Interest on securities/Debentures | 10,000 | Individual 10% Company 10% | 20% |
| 194 | Dividend (Dividend other than a listed company) | 5,000 | Individual 10% Company 10% | 20% |
| 194A | Interest other interest on securities | 40,000 for individual & 50,000 For Senior Citizens | Individual10% | 20% |
| 194B | Winning from lotteries | 10,000 | Individual 30% Company 30% | 30% |
| 194BB | Winnings from Horse Race | 10,000 | Individua 30% Company 30% | 30% |
| 194C | Payment to Contractor Single Transaction Payment to Contractor Aggregate during the FY | 30,000 1,00,000 | Individual 1% Company 2% Individual 1% Company 2% | 20% 20% |
| 194C | Contract- Transporter not under 44AE (Annexure-6) | 30,000/75,000 | Individual 1% Company 2% | 20% |
| 194D | Insurance Commission | 15,000 | Individual 5% Domestic Company 10% | 20% |
| 194DA | Payment in respect of life insurance policy | 1,00,000 | Individual 5% Company 5% | 20% |
| 194E | Payment to Non-Resident Sportsmen/Sports Association | Individual 20% Company 20% | 20% | |
| 194EE | Payments of deposits under the National Savings Scheme | 2,500 | Individual 10% Company 10% | 20% |
| 194F | Repurchase units by Mutual Funds | Individual 20% Company 20% | 20% | |
| 194G | Commission on Lottery | 15,000 | Individual 5% Company 5% | 20% |
| 194H | Commission on Brokerage | 15,000 | Individual 5% Company 5% | 20% |
| 194I | Rent – Land, Building, and Furniture | 2,40,000 | Individual 10% Company 10% | 20% |
| 194I | Rent- Plant, Machinery, and Equipment | 2,40,000 | Individual 2% Company 2% | 20% |
| 194IA | Transfer of certain immovable property other than agricultural land | 50,00,000 | Individual 1% Company 1% | 20% |
| 194IB | Rent- Land or Building or both | 50,000 per month | Individual 5% Company 5% | 20% |
| 194IC | Payment of Monetary consideration under the joint development agreement | Individual 10% Company 10% | 20% | |
| 194J | Professional fees/technical services Payment to FTS, Certain Royalties, and Call Centre Operator | 30,000 30,000 | Individual 10% Company 10% Individual 2% Company 2% | 20% 20% |
| 194K | Payment of any income in respect of units of Mutual fund as per section 10(23D) or Units of the administrator or from a specified company(Annexure-12) | Individual 10% Company 10% | 20% | |
| 194LA | TDS on compensation for compulsory acquisition of immovable property(Annexure-13) | 2,50,000 | 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 securitization trust | Individual 25% Company 30% | 30% | |
| 194LC | 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 of India | Individual 5% Company 5% | 20% | |
| 194LD | Interest on certain bonds and Govt. Securities | Individual 5% Company 5% | 20% | |
| 194M | Payment of Commission, contractual fee, the 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 | 5,00,000 | 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 the business of banking or 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 the business of banking, or a post office | 100,00,000 | Individual 2% Company 2% | 20% |
| 194O | Applicable for E-Commerce operator for the sale of goods or provision of service facilitated by it through its digital or electronic facility or platform (Applicable from 01-10-2020) | Individual 1% Company 1% | 20% | |
| 194P | TDS by a specified bank to specified senior citizen | Applicable to a particular slab of Income including applicable surcharge and Health & Education Cess | ||
| 194Q | Purchase of goods (Applicable from 1-July-2021) | 50,00,000 | 0.1% | |
| 195 | Payment of any sum to Non-Resident | Higher of Rate in force or Double taxation avoidance act rate | ||
| 196B | Income from units (including long-term capital gain on transfer of such units) to an offshore fund | No Limit | 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) | No Limit | Individual 10% Company 10% | 20% |
| 196D | Income of FIIs (Foreign Institutional Investors) from securities | No Limit | Individual 20% Company 20% | 20% |
Related Article:
TDS Rate Chart for FY 2021-22 & AY 2022-23
TDS Rates Chart for FY 2020-21 (AY 2021-22)
| Section | Nature of Payment | TDS Rate(%) from (01-04-2020 to 13-05-2020) | New Rate(%) W.e.f 14-05-2020 |
|---|---|---|---|
| 192 | Salary Income | Slab rates | Slab rates |
| 192A | Premature withdrawal from Employee Provident Fund | Individual 10% Company NA | Individual 10% Company NA |
| 193 | Interest on securities/Debentures | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194 | Dividend (Dividend other than a listed company) | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194A | Interest other interest on securities | Individual 10% | Individual 7.5% |
| 194B | Winning from lotteries | Individual 30% Company 30% | Individual 30% Company 30% |
| 194BB | Winnings from Horse Race | Individual 30% Company 30% | Individual 30% Company3 0% |
| 194C | Payment to Contractor Single Transaction Payment to Contractor Aggregate during the FY | Individual 1% Company 2% Individual 1% Company 2% | Individual 0.75% Company 1.5% Individual 0.75% Company 1.5% |
| 194C | Contract- Transporter not under 44AE | Individual 1% Company 2% | Individual 0.75% Company 1.5% |
| 194D | Insurance Commission | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
| 194DA | Payment in respect of life insurance policy | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
| 194E | Payment to Non-Resident Sportsmen/Sports Association | Individual 20% Company 20% | Individual 20% Company 20%- |
| 194EE | Payments of deposits under the National Savings Scheme | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194F | Repurchase units by Mutual Funds | Individual 20% Company 20% | Individual 15% Company 15% |
| 194G | Commission on Lottery | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
| 194H | Commission on Brokerage | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
| 194I | Rent – Land, Building, and Furniture | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194I | Rent- Plant, Machinery, and Equipment | Individual 2% Company 2% | Individual 1.5% Company 1.5% |
| 194IA | Transfer of certain immovable property other than agricultural land | Individual 1% Company 1% | Individual 0.75% Company 0.75% |
| 194IB | Rent- Land or Building or both | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
| 194IC | Payment of Monetary consideration under the joint development agreement | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194J | Professional fees/technical services Payment to FTS, Certain Royalties, and Call Centre Operator | Individual 10% Company 10% Individual 2% Company 2% | Individual 7.5% Company 7.5% Individual 1.5% Company 1.5% |
| 194LA | TDS on compensation for compulsory acquisition of immovable property | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194LB | Income by way of interest from infrastructure debt fund | Individual 5% Company 5% | Individual 5% Company 5% |
| 194LC | 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 of India | Individual 5% Company 5% | Individual 5% Company 5% |
| 194LD | Interest on certain bonds and Govt. Securities | Individual 5% Company 5% | Individual 5% Company 5% |
| 194M | Payment of Commission, contractual fee, a 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 | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
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