| Section | Nature of Payment | Threshold Limit of Payment | Rates | ||
| Basic Exemption Limit | |||||
| For Old regime | For New regime | ||||
| 192 | Income from Salary | Super Senior Citizen (80 Years or more) | Rs. 5,00,000 | Rs. 4,00,000 | Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) TDS as per Tax Regime selected by employee. If not selected, TDS deduction as per New Regime. |
| Senior Citizen (60 Years or more) | Rs. 3,00,000 | Rs. 4,00,000 | |||
| Others | Rs. 2,50,000 | Rs. 4,00,000 | |||
| 192A | Premature Withdrawal from EPF | Rs. 50,000 | 10% | ||
| 193 | Interest on Securities (including Listed Debentures) | Rs. 10,000 | 10% | ||
| 194 | Dividend | Rs. 10,000 | 10% | ||
| 194A | *Interest (Other than on Securities) by a Banking Company/ Post Office | Senior citizen : Rs. 1,00,000 p.a. Others : Rs. 50,000 p.a. | 10% | ||
| 194A | Interest (Other than on Securities) by others | Rs. 10,000 p.a. | 10% | ||
| 194B | Winning from Lotteries & Cross Word Puzzles, Card games and other games on any sort (Other than winning from online Games) | Rs. 10,000 p.a. in respect of a single transaction (aggregate earlier) |
30% | ||
| 194BA | Winning From Online Games | No Limit | 30% | ||
| 194BB | Winnings from horse races | Rs. 10,000 p.a. in respect of a single transaction (aggregate earlier) |
30% | ||
| 194C | *Payment to contractor/sub-contractor | Rs.30,000 Single Transaction (or) | Individual/HUF : 1% | ||
| Rs. 1,00,000 Aggregate of transactions | Others : 2% | ||||
| 194D | Insurance Commision | Rs. 20,000 | Domestic Company:10% | ||
| Other than Company : 2% | |||||
| 194DA | Payment under life insurance policy (The tax shall be deducted on the amount of income comprised in insurance pay-out) | Rs.1,00,000 p.a. | 2% | ||
| 194EE | Payment under National Savings Scheme | Rs.2,500 | 10% | ||
| 194F | Payment on account of repurchase of units by Mutual Fund or Unit Trust of India | No Limit | Nil | ||
| 194G | Commission on Sale of Lottery Tickets | Rs. 20,000 | 2% | ||
| 194H | *Commission/Brokerage | Rs. 20,000 | 2% | ||
| 194-I(a) | *Rent of Plant / Machinery | Rs. 50,000 pm | 2% | ||
| 194-I(b) | *Rent of Land or building or furniture or fitting | Rs. 50,000 pm | 10% | ||
| 194-IA | Payment or transfer of immovable property (other than rural agriculture land) | Rs. 50,00,000 & above | 1% | ||
| (on the higher of amount of consideration or the stamp duty value) | |||||
| 194-IB | Rent payable by an individual or HUF not liable to tax audit | Rs.50,000 per month | 2% | ||
| 194-IC | Payment of monetary consideration under Joint Development Agreements to Resident individual/HUF | No Limit | 10% | ||
| 194J | *Fees for Professional / Technical Services / Royalty / Remuneration to director | Rs. 50,000 p.a. (Rs. 0 in case of Directors) | 2% (For Call Centre, Fees for Technical Services & Royalty in case of cinematograh films) | ||
| 10% (For Professional Services, Director remuneration and other royalty) | |||||
| 194K | Income in respect of units of Mutual funds or specified company | Rs.10,000 | 10% | ||
| 194LA | Compensation on acquisition of immovable Property | Rs. 5,00,000 | 10% | ||
| 194LBA(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 resident unit holders. | No Limit | 10% | ||
| 194LBB | Payment in respect of units of Investment funds u/s 115UB [other than income which is exempt under Section 10(23FBB)] | No Limit | 10% | ||
| 194LBC(1) | Income in respect of investment made in a securitisation trust | No Limit | 10% | ||
| 194M | Payment to resident contractors and professionals or by way of commission / brokerage (other than those who covered u/s 194C or 194J) by individual/HUF not liable for tax audit. | Rs. 50 lacs | 2% | ||
| 194N | Aggregate Cash withdrawal from Bank / Co-operative bank / Post office etc. (* by persons who have not filed ITR for 3 previous years immediately preceding the previous year and the due date for filing ITR under section 139(1) has expired) | Rs. 20 lakhs | Cash withdrawal between Rs. 20 lakhs to Rs. 1 crore : 2% | ||
| Cash withdrawal above Rs. 1 crore : 5% | |||||
| 194N | Aggregate Cash withdrawal from Bank, Post office etc. in case of others. | Rs. 1 crore | 2% | ||
| 194-O | Payment by E-commerce operator to e-commerce participants | Individual /HUF : Rs. 5 Lakh | 0.10% | ||
| Others : No limit. | |||||
| 194P | TDS deduction by bank in case of specified Senior Citizen above 75 Years drawing pension | Rs. 3,00,000 | As per Rates in force | ||
| (NOTE-1) | |||||
| 194Q | Payment for purchase of goods | 50 Lakhs | 0.1% (on the value above Rs. 50 lakhs) | ||
| 194R | Benefits or perquisites arising from business or profession | Rs. 20, 000 | 10% | ||
| 194S | Payment of Consideration for Transfer of Virtual Digital Assets of crypto currency | By Specified Persons(Not having income PGBP or less than 1Cr/50 lakh) : Rs. 50,000 | 1% | ||
| By Others : Rs. 10,000 | |||||
| 194T | TDS on payment of salary, remuneration, interest, bonus or commission by partnership firm to partners | Rs. 20,000 | 10% | ||
| 206AA | TDS rate in case of Non availability of PAN | - | Higher of- | ||
| Rates in force | |||||
| 20% | |||||
| * Other than Individual or HUF (except those covered u/s 44AB) | |||||
| NOTE-1 | |||||
| No ITR filing by senior citizen if all the following conditions are satisfied:
1. The senior citizen is resident in India. 2. He is of the age of 75 years or more during the previous year. 3. He has only pension income and may also have interest income from the same bank (specified bank) in which he is receiving his pension income; 4. He has furnished a declaration in Form 12BBA to the specified bank. 5. Specified bank would be required to compute income after giving effect to deductions allowable under Chapter VI-A and rebate under section 87A and deduct Income Tax on the rates in force. 6. As per Notification no. S.O. 3595(E) dated 2nd Sep, 2021, specified banks means a banking company which is a scheduled bank and has been appointed as agents of RBI u/s 45 of the RBI act. Most of the major public sector banks, Private sector banks &foreign banks are covered. |
|||||
| Section | Goods/Services | Nature | Threshold Limit of Payment | Rates |
| 206C (1) | Alcoholic Liquor for Human Consumption | Sale | 1.00% | |
| 206C (1) | Indian made for foreign liquor | Sale | 1.00% | |
| 206C (1) | Minerals,coal lignite, Iron ore by a trader | Sale | 1.00% | |
| 206C (1F) | Motor vehicle & other notified high value items | Sale | Rs. 10 Lakhs per transaction | 1% |
| 206C (1C) | Parking lot, toll plaza, mining & quarrying | Lease or license | 2.00% | |
| 206C (1) | Scrap | Sale | 1.00% | |
| 206C (1) | Tendu Leaves | Sale | 5.00% | |
| 206C (1) | Timber or any other forest produce (not being tendu leaves) obtained under a forest lease |
Sale | 2.00% | |
| 206C (1) | Timber obtained by any mode other than under a forest lease |
Sale | 2.00% | |
| 206 (1H) | Goods other those specified separately in excess of Rs.50 Lakh in a year by seller | Sale | Whose turnover is more than Rs. 10 Crore | Nil |
| 206 (1G) | Overseas Tour Package | Sale | No Limit | Upto 10 Lacs : 5% |
| Above 10 Lacs: 20% | ||||
| 206 (1G) | Remittance under LRS of RBI is a loan for education obtained from any financial institution defined in section 80E | Foreign Remittance | Rs. 10 lacs | 0.00% |
| 206 (1G) | Remittance under LRS of RBI foreducation in other cases or for medical treatment | Foreign Remittance | Rs. 10 lacs | 5% |
| Any other Remittance | Foreign Remittance | Rs. 10 lacs | 20% | |
| 206CC | TCS rate in case of Non availability of PAN | - | Higher of- | |
| Twice the rate | ||||
| 5% | ||||
| Notes- | ||||
| Surcharges & Education Cess | ||||
| Type of Payment | Surcharge | Rate | Health and Education Cess (4.00%) | |
| Salary (Residents) | Upto 50 Lacs | Nil | Yes | |
| 50 Lacs to 1 Crore | 10% | Yes | ||
| > 1 Crore but upto 2 Crore | 15% | Yes | ||
| > 2 crore but upto 5 crore | 25% | Yes | ||
| > 5 crore | 37% (Old Regime) | Yes | ||
| 25% (New Regime) | ||||
| Other Payments to Residents | No | Nil | No | |
| Interest for failure to deduct tax at source/delay in payment of TDS | ||||
| Stage of deduction | Rate per month or part of the month | |||
| From date when deductible till actual deduction | 1.00% | |||
| From date of deduction till payment | 1.50% | |||
| Section | Nature of Payment | Threshold Limit of Payment | Rates | ||
| Basic Exemption Limit | |||||
| For Old regime | For New regime | ||||
| 192 | Income from Salary | Super Senior Citizen (80 Years or more) | Rs. 5,00,000 | Rs. 3,00,000 | Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) TDS as per Tax Regime selected by employee. If not selected, TDS deduction as per New Regime. |
| Senior Citizen (60 Years or more) | Rs. 3,00,000 | Rs. 3,00,000 | |||
| Others | Rs. 2,50,000 | Rs. 3,00,000 | |||
| 192A | Premature Withdrawal from EPF | Rs. 50,000 | PAN available : 10% PAN Not available : 20% |
||
| 193 | Interest on Securities (including Listed Debentures) | Rs. 5,000 (Rs. 10,000 on 8% Savings (Taxable) Bonds, 2003) |
10% | ||
| 194 | Dividend | Rs. 5,000 | 10% | ||
| 194A | *Interest (Other than on Securities) by a Banking Company/ Post Office | Senior citizen : Rs. 50,000 p.a. Others : Rs. 40,000 p.a. | 10% | ||
| 194A | Interest (Other than on Securities) by others | Rs. 5,000 p.a. | 10% | ||
| 194B | Winning from Lotteries & Cross Word Puzzles, Card games and other games on any sort (Other than winning from online Games) | Rs. 10,000 p.a. | 30% | ||
| 194BA | Winning From Online Games | No Limit | 30% | ||
| 194BB | Winnings from horse races | Rs. 10,000 p.a. | 30% | ||
| 194C | *Payment to contractor/sub-contractor | Rs.30,000 Single Transaction (or) | Individual/HUF : 1% Others : 2% |
||
| Rs. 1,00,000 Aggregate of transactions | |||||
| 194D | Insurance Commision | Rs. 15,000 | Other than Company : 5% (Reduced rate of 2% shall be wef 1.4.25 onwards) |
||
| Domestic Company:10% | |||||
| 194DA | Payment under life insurance policy (The tax shall be deducted on the amount of income comprised in insurance pay-out) | Rs.1,00,000 p.a. | Upto 30.9.24 : 5% Wef 1.10.24 : 2% |
||
| 194EE | Payment under National Savings Scheme | Rs.2,500 | 10% | ||
| 194F | Payment on account of repurchase of units by Mutual Fund or Unit Trust of India | No Limit | Upto 30.9.24 : 20% Wef 1.10.24 : NA |
||
| 194G | Commission on Sale of Lottery Tickets | Rs. 15,000 | Upto 30.9.24 : 5% Wef 1.10.24 : 2% |
||
| 194H | *Commission/Brokerage | Rs. 15,000 p.a. | Upto 30.9.24 : 5% Wef 1.10.24 : 2% |
||
| 194-I(a) | *Rent of Plant / Machinery | Rs. 2,40,000 p.a. | 2% | ||
| 194-I(b) | *Rent of Land or building or furniture or fitting | Rs. 2,40,000 p.a. | 10% | ||
| 194-IA | Payment or transfer of immovable property (other than rural agriculture land) | Rs. 50,00,000 & above | 1% (on the higher of amount of consideration or the stamp duty value) |
||
| 194-IB | Rent payable by an individual or HUF not liable to tax audit | Rs.50,000 per month | Upto 30.9.24 : 5% Wef 1.10.24 : 2% |
||
| 194-IC | Payment of monetary consideration under Joint Development Agreements to Resident individual/HUF | No Limit | 10% | ||
| 194J | *Fees for Professional / Technical Services / Royalty / Remuneration to director | Rs. 30,000 p.a. (Rs. 0 in case of Directors) | 2% (For Call Centre, Fees for Technical Services & Royalty in case of cinematograh films) | ||
| 10% (For Professional Services, Director remuneration and other royelty) | |||||
| 194K | Income in respect of units of Mutual funds or specified company | Rs. 5,000 | 10% | ||
| 194LA | Compensation on acquisition of immovable Property | Rs. 2,50,000 | 10% | ||
| 194LBA(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 resident unit holders. | No Limit | 10% |
||
| 194LBB | Payment in respect of units of Investment funds u/s 115UB [other than income which is exempt under Section 10(23FBB)] | No Limit | 10% |
||
| 194LBC(1) | Income in respect of investment made in a securitisation trust | No Limit | Individual or HUF: 25% Other : 30% |
||
| 194M | Payment to resident contractors and professionals or by way of commission / brokerage (other than those who covered u/s 194C or 194J) by individual/HUF not liable for tax audit. | Rs. 50 lacs | Upto 30.9.24 : 5% Wef 1.10.24 : 2% |
||
| 194N | Aggregate Cash withdrawal from Bank / Co-operative bank / Post office etc. (* by persons who have not filed ITR for 3 previous years immediately preceding the previous year and the due date for filing ITR under section 139(1) has expired) | Rs. 20 lakhs | Cash withdrawal between Rs. 20 lakhs to Rs. 1 crore : 2% | ||
| Cash withdrawal above Rs. 1 crore : 5% | |||||
| 194N | Aggregate Cash withdrawal from Bank, Post office etc. in case of others. | Rs. 1 crore | 2% | ||
| 194-O | Payment by E-commerce operator to e-commerce participants | Individual /HUF : Rs. 5 Lakh Others : No limit. |
Upto 30.9.24 : 1.% Wef 1.10.24 : 0.10.% |
||
| 194P | TDS deduction by bank in case of specified Senior Citizen above 75 Years drawing
pension (NOTE-1) |
Rs. 3,00,000 | As per Rates in force | ||
| 194Q | Payment for purchase of goods | 50 Lakhs | 0.1% (on the value above Rs. 50 lakhs) | ||
| 194R | Benefits or perquisites arising from business or profession | Rs. 20, 000 | 10% | ||
| 194S | Payment of Consideration for Transfer of Virtual Digital Assets of crypto currency | By Specified Persons(Not having income PGBP or less than 1Cr/50 lakh) : Rs. 50,000 By Others : Rs. 10,000 |
1% | ||
| 194T | TDS on payment of salary, remuneration, interest, bonus or commission by partnership firm to partners for aggregate amounts more than Rs. 20,000 in the financial year | Rs. 20,000 | FY 24-25 : Nil FY 25-26 onwards : 10% |
||
| 206AA | TDS rate in case of Non availability of PAN | - | Higher of- | ||
| Rates in force | |||||
| 20% | |||||
| 206AB | TDS on non-filers of ITR at higher rates | - | Higher of - | ||
| – 5% | |||||
| – Twice the rate or rates in force | |||||
* Other than Individual or HUF (except those covered u/s 44AB)
NOTE-1
No ITR filing by senior citizen if all the following conditions are satisfied:
1. The senior citizen is resident in India.
2. He is of the age of 75 years or more during the previous year.
3. He has only pension income and may also have interest income from the same bank (specified bank) in which he is receiving his pension income;
4. He has furnished a declaration in Form 12BBA to the specified bank.
5. Specified bank would be required to compute income after giving effect to deductions allowable under Chapter VI-A and rebate under section 87A and deduct Income Tax on the rates in force.
6. As per Notification no. S.O. 3595(E) dated 2nd Sep, 2021, specified banks means a banking company which is a scheduled bank and has been appointed as agents of RBI u/s 45 of the RBI act. Most of the major public sector banks, Private sector banks &foreign banks are covered.
| TCS Rates | ||||
| Section | Goods/Services | Nature | Threshold Limit of Payment | Rates |
| 206C (1) | Alcoholic Liquor for Human Consumption | Sale | 1.00% | |
| 206C (1) | Indian made for foreign liquor | Sale | 1.00% | |
| 206C (1) | Minerals,coal lignite, Iron ore by a trader | Sale | 1.00% | |
| 206C (1F) | Motor vehicle | Sale | Sale value Exceeding Rs. 10 Lakhs per transaction | 1% Note : For notifed items other than motor car, applicable wef 1.1.25. |
| 206C (1C) | Parking lot, toll plaza, mining & quarrying | Lease or license | 2.00% | |
| 206C (1) | Scrap | Sale | 1% | |
| 206C (1) | Tendu Leaves | Sale | 5% | |
| 206C (1) | Timber obtained under a forest lease or other mode | Sale | 2.50% | |
| 206C (1) | Any other forest produce not being a Timber or tendu leaves | Sale | 2.50% | |
| 206 (1H) | Goods other those specified separately in excess of Rs.50 Lakh in a year by seller | Sale | Whose turnover is more than Rs. 10 Crore | 0.10% |
| 206 (1G) | Overseas Tour Package | Sale | No Limit | Upto 7 Lacs : 5% Above 7 Lacs: 20% |
| 206 (1G) | Remittance under LRS of RBIis a loan for education obtained from any financial institutiondefined in section 80E | Foreign Remittance | Rs. 7 lacs | 0.50% |
| 206 (1G) | Remittance under LRS of RBIforeducation in other cases or for medical treatment | Foreign Remittance | Rs. 7 lacs | 5% |
| Any other Remittance | Foreign Remittance | 7 lacs |
20% | |
| 206CC | TCS rate in case of Non availability of PAN | - | Higher of- | |
| Twice the rate | ||||
| 5% | ||||
| 206CCA | TCS on non-filers of ITR at higher rates | - | Higher of - | |
| Twice the rate or rates in force | ||||
| 5% | ||||
Notes-
Surcharges & Education Cess
| Type of Payment | Surcharge | Rate | Health and Education Cess (4.00%) |
| Salary (Residents) | Upto 50 Lacs | Nil | Yes |
| 50 Lacs to 1 Crore | 10% | Yes | |
| > 1 Crore but upto 2 Crore | 15% | Yes | |
| > 2 crore but upto 5 crore | 25% | Yes | |
| > 5 crore | 37% (Old Regime) 25% (New Regime) |
Yes | |
| Other Payments to Residents | No | Nil | No |
Interest for failure to deduct tax at source/delay in payment of TDS
| Stage of deduction | Rate per month or part of the month | ||
| From date when deductible till actual deduction | 1.00% | ||
| From date of deduction till payment | 1.50% |
| Section | Nature of Payment | Threshold Limit of Payment | Rates | ||
| Basic Exemption Limit | |||||
| For Old regime | For New regime | ||||
| 192 | Income from Salary | Super Senior Citizen (80 Years or more) | Rs. 5,00,000 | Rs. 3,00,000 | Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) TDS as per Tax Regime selected by employee. If not selected, TDS deduction as per New Regime. |
| Senior Citizen (60 Years or more) | Rs. 3,00,000 | Rs. 3,00,000 | |||
| Others | Rs. 2,50,000 | Rs. 3,00,000 | |||
| 192A | Premature Withdrawal from EPF | Rs. 50,000 | PAN available : 10% PAN Not available : 20% |
||
| 193 | Interest on Securities (including Listed Debentures) | Rs. 5,000 (Rs. 10,000 on 8% Savings (Taxable) Bonds, 2003) |
10% | ||
| 194 | Dividend | Rs. 5,000 | 10% | ||
| 194A | *Interest (Other than on Securities) by a Banking Company/ Post Office | Senior citizen : Rs. 50,000 p.a. Others : Rs. 40,000 p.a. | 10% | ||
| 194A | Interest (Other than on Securities) by others | Rs. 5,000 p.a. | 10% | ||
| 194B | Winning from Lotteries & Cross Word Puzzles, Card games and other games on any sort (Other than winning from online Games) | Rs. 10,000 p.a. | 30% | ||
| 194BA | Winning From Online Games | No Limit | 30% | ||
| 194BB | Winnings from horse races | Rs. 10,000 p.a. | 30% | ||
| 194C | *Payment to contractor/sub-contractor | Rs.30,000 Single Transaction (or) | Individual/HUF : 1% Others : 2% |
||
| Rs. 1,00,000 Aggregate of transactions | |||||
| 194D | Insurance Commision | Rs. 15,000 | Other than Company :5% | ||
| Domestic Company:10% | |||||
| 194DA | Payment under life insurance policy (The tax shall be deducted on the amount of income comprised in insurance pay-out) | Rs.1,00,000 p.a. | 2% | ||
| 194EE | Payment under National Savings Scheme | Rs.2,500 | 10% | ||
| 194G | Commission on Sale of Lottery Tickets | Rs. 15,000 | 2% | ||
| 194H | *Commission/Brokerage | Rs. 15,000 p.a. | 2% | ||
| 194-I(a) | *Rent of Plant / Machinery | Rs. 2,40,000 p.a. | 2% | ||
| 194-I(b) | *Rent of Land or building or furniture or fitting | Rs. 2,40,000 p.a. | 2% | ||
| 194-IA | Payment or transfer of immovable property (other than rural agriculture land) | Rs. 50,00,000 & above | 1% (on the higher of amount of consideration or the stamp duty value) |
||
| 194-IB | Rent payable by an individual or HUF not liable to tax audit | Rs.50,000 per month | 5% | ||
| 194-IC | Payment of monetary consideration under Joint Development Agreements to Resident individual/HUF | No Limit | 10% | ||
| 194J | *Fees for Professional / Technical Services / Royalty / Remuneration to director | Rs. 30,000 p.a. (Rs. 0 in case of Directors) | 2% (For Call Centre, Fees for Technical Services & Royalty in case of cinematograh films) | ||
| 10% (For Professional Services, Director remuneration and other royelty) | |||||
| 194K | Income in respect of units of Mutual funds or specified company | Rs. 5,000 | 10% | ||
| 194LA | Compensation on acquisition of immovable Property | Rs. 2,50,000 | 10% | ||
| 194LBA(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 resident unit holders. | No Limit | 10% |
||
| 194LBB | Payment in respect of units of Investment funds u/s 115UB [other than income which is exempt under Section 10(23FBB)] | No Limit | 10% |
||
| 194LBC(1) | Income in respect of investment made in a securitisation trust | No Limit | Individual or HUF: 25% Other : 30% |
||
| 194M | Payment to resident contractors and professionals or by way of commission / brokerage (other than those who covered u/s 194C or 194J) by individual/HUF not liable for tax audit. | Rs. 50 lacs | 2% | ||
| 194N | Aggregate Cash withdrawal from Bank / Co-operative bank / Post office etc. (* by persons who have not filed ITR for 3 previous years immediately preceding the previous year and the due date for filing ITR under section 139(1) has expired) | Rs. 20 lakhs | Cash withdrawal between Rs. 20 lakhs to Rs. 1 crore : 2% | ||
| Cash withdrawal above Rs. 1 crore : 5% | |||||
| 194N | Aggregate Cash withdrawal from Bank, Post office etc. in case of others. | Rs. 1 crore | 2% | ||
| 194-O | Payment by E-commerce operator to e-commerce participants | Individual /HUF : Rs. 5 Lakh Others : No limit. |
0.10% | ||
| 194P | TDS deduction by bank in case of specified Senior Citizen above 75 Years drawing
pension (NOTE-1) |
Rs. 3,00,000 | As per Rates in force | ||
| 194Q | Payment for purchase of goods | 50 Lakhs | 0.1% (on the value above Rs. 50 lakhs) | ||
| 194R | Benefits or perquisites arising from business or profession | Rs. 20, 000 | 10% | ||
| 194S | Payment of Consideration for Transfer of Virtual Digital Assets of crypto currency | By Specified Persons(Not having income PGBP or less than 1Cr/50 lakh) : Rs. 50,000 By Others : Rs. 10,000 |
1% | ||
| 194T | TDS on payment of salary, remuneration, interest, bonus or commission by partnership firm to partners for aggregate amounts more than Rs. 20,000 in the financial year | Rs. 20,000 | 10% | ||
| 206AA | TDS rate in case of Non availability of PAN | - | Higher of- | ||
| Rates in force | |||||
| 20% | |||||
| 206AB | TDS on non-filers of ITR at higher rates | - | Higher of - | ||
| – 5% | |||||
| – Twice the rate or rates in force | |||||
* Other than Individual or HUF (except those covered u/s 44AB)
NOTE-1
No ITR filing by senior citizen if all the following conditions are satisfied:
1. The senior citizen is resident in India.
2. He is of the age of 75 years or more during the previous year.
3. He has only pension income and may also have interest income from the same bank (specified bank) in which he is receiving his pension income;
4. He has furnished a declaration in Form 12BBA to the specified bank.
5. Specified bank would be required to compute income after giving effect to deductions allowable under Chapter VI-A and rebate under section 87A and deduct Income Tax on the rates in force.
6. As per Notification no. S.O. 3595(E) dated 2nd Sep, 2021, specified banks means a banking company which is a scheduled bank and has been appointed as agents of RBI u/s 45 of the RBI act. Most of the major public sector banks, Private sector banks &foreign banks are covered.
| TCS Rates | ||||
| Section | Goods/Services | Nature | Threshold Limit of Payment | Rates |
| 206C (1) | Alcoholic Liquor for Human Consumption | Sale | 1.00% | |
| 206C (1) | Indian made for foreign liquor | Sale | 1.00% | |
| 206C (1) | Minerals,coal lignite, Iron ore by a trader | Sale | 1.00% | |
| 206C (1F) | Motor vehicle | Sale | Sale value Exceeding Rs. 10 Lakhs per transaction | 1.00% |
| 206C (1C) | Parking lot, toll plaza, mining & quarrying | Lease or license | 2.00% | |
| 206C (1) | Scrap | Sale | 1% | |
| 206C (1) | Tendu Leaves | Sale | 5% | |
| 206C (1) | Timber obtained under a forest lease or other mode | Sale | 2.50% | |
| 206C (1) | Any other forest produce not being a Timber or tendu leaves | Sale | 2.50% | |
| 206 (1H) | Goods other those specified separately in excess of Rs.50 Lakh in a year by seller | Sale | Whose turnover is more than Rs. 10 Crore | 0.10% |
| 206 (1G) | Overseas Tour Package | Sale | No Limit | Upto 30 Sep 2023 : 5% From 1 Oct 2023 : Upto 7 Lacs : 5% Above 7 Lacs: 20% |
| 206 (1G) | Remittance under LRS of RBIis a loan for education obtained from any financial institutiondefined in section 80E | Foreign Remittance | Rs. 7 lacs | 0.50% |
| 206 (1G) | Remittance under LRS of RBIforeducation in other cases or for medical treatment | Foreign Remittance | Rs. 7 lacs | 5% |
| Any other Remittance | Foreign Remittance | 7 lacs |
Upto 30 Sep 2023: 5% From 1 OCT 2023 : 20% |
|
| 206CC | TCS rate in case of Non availability of PAN | - | Higher of- | |
| Twice the rate | ||||
| 5% | ||||
| 206CCA | TCS on non-filers of ITR at higher rates | - | Higher of - | |
| Twice the rate or rates in force | ||||
| 5% | ||||
Notes-
Surcharges & Education Cess
| Type of Payment | Surcharge | Rate | Health and Education Cess (4.00%) |
| Salary (Residents) | Upto 50 Lacs | Nil | Yes |
| 50 Lacs to 1 Crore | 10% | Yes | |
| > 1 Crore but upto 2 Crore | 15% | Yes | |
| > 2 crore but upto 5 crore | 25% | Yes | |
| > 5 crore | 37% (Old Regime) 25% (New Regime) |
Yes | |
| Other Payments to Residents | No | Nil | No |
Interest for failure to deduct tax at source/delay in payment of TDS
| Stage of deduction | Rate per month or part of the month | ||
| From date when deductible till actual deduction | 1.00% | ||
| From date of deduction till payment | 1.50% |
| Section | Nature of Payment | Threshold Limit of Payment | Rates | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 192 | Income from Salary |
|
Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) Or, Option to choose between New and Old Tax Slab Regime for Salaried Employees | ||||||
| 192A | Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 30%) | Rs. 50,000 | 10% | ||||||
| 193 | *Interest on Securities | Rs. 10,000 | 10% | ||||||
| 194 | Dividend | Rs. 5,000 | 10% (Tds shall not be deducted on Dividend paid or credited to Business trust by Special Purpose Vehicle or any other person as may be specified) | ||||||
| 194A | Interest from a Banking Company/ Post Office (Other than on Securities) | Rs. 40,000 per annum for Others /Rs. 50,000 per annum for Senior citizen | 10% | ||||||
| 194A | Interest other than from a Banking Company | Rs. 5,000 per annum | 10% | ||||||
| 194B | Winning from Lotteries & Cross Word Puzzles, Card games and other games on any sort | Rs. 10,000 per annum | 30% | ||||||
| 194BB | Winnings from horse races | Rs. 10,000 per annum | 30% | ||||||
| 194C | Payment to contractor/sub-contractor |
Rs.30,000 Single Transaction (or) Rs. 1,00,000 Aggregate of transactions |
|
||||||
| 194D | Insurance Commision | Rs. 15,000 |
|
||||||
| 194DA | Payment under life insurance policy (The tax shall be deducted on the amount of income comprised in insurance pay-out) | Rs.1,00,000 per annum | 5% | ||||||
| 194E | Payment to non-resident sportsmen/sports association | Rs. 0 | 20% (The rate of TDS shall be increased by applicable surcharge and Health & Education cess.) | ||||||
| 194EE | Payment of NSS Deposit | Rs.2,500 | 10% | ||||||
| 194F | Payment on account of repurchase of units by Mutual Fund or Unit Trust of India | - |
20% |
||||||
| 194G | Commission on Sale of Lottery Tickets | Rs. 15,000 | 5% | ||||||
| 194H | **Commission/Brokerage | Rs. 15,000 per annum | 2% | ||||||
| 194-I(a) | **Rent of Plant / Machinery | Rs. 2,40,000 per annum | 2% | ||||||
| 194-I(b) | **Rent of Land or building or furniture or fitting | Rs. 2,40,000 per annum | 10% | ||||||
| 194-IA | Payment or transfer of immovable property (other than rural agriculture land) | Rs. 50,00,000 & above | ***1% | ||||||
| 194-IB | Rent payable by an individual or HUF not liable to tax audit | Rs.50,000 per month | 5% | ||||||
| 194-IC | Payment of monetary consideration under Joint Development Agreements | - | 10% | ||||||
| 194J | Fees for Professional / Technical Services / Royalty / Remuneration to director | Rs. 30,000 per annum (Rs. 0 in case of Directors) |
|
||||||
| 194K | Income in respect of units of Mutual funds or specified company | Rs. 5,000 | 10% | ||||||
| 194LA | Compensation on acquisition of immovable Property | Rs. 2,50,000 | 10% | ||||||
| 194LBA(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. | - | 10% | ||||||
| 194LBB | Payment in respect of units of Investment funds u/s 115UB [other than income which is exempt under Section 10(23FBB)] | - | 10% | ||||||
| 194LBC(1) | Income in respect of investment made in a securitisation trust | - |
|
||||||
| 194M | TDS on payment to resident contractors and professionals or by way of commission / brokerage (other than those who covered u/s 194C or 194J) by individual/HUF not liable for tax audit. | Rs. 50 lacs | 5% | ||||||
| 194N | TDS on cash withdrawal from Bank, Post office etc. | i) in excess of Rs. 1 crore | 2% | ||||||
| 194N |
TDS on cash withdrawal from Bank / Co-operative bank
/ Post office etc. |
ii) in excess of Rs. 20 lakhs* (* for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired) |
|
||||||
| 194-O | Tds on E-commerce participants | 5 Lakh | 1% | ||||||
| 194P | TDS on Senior Citizen above 75 Years | NOTE-1 | As per Rates in force | ||||||
| 194Q | Purchase of goods (w.e.f 01.07.2021) | 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 of crypto currency (w.e.f 01.07.2022) | - | 1% | ||||||
| 206AA | TDS rate in case of Non availability of PAN | - |
Higher of-
As per act twice the rate of rate in force 20% |
||||||
| 206AB | TDS on non-filers of ITR at higher rates | - |
Higher of – 5% – Twice the rate or rate in force |
| * Only for Debenture in which the public are substantially interested |
|
** Other than Individual or HUF except those covered
u/s 44AB
***TDS is to be deducted on the amount of consideration
paid by the transferee to the transferor This section does not take into account
the stamp duty value of the immovable property, whereas, as the provisions of section
per 43CA and 50C of the Act, for the computation of income under the head “Profits
and gains from business or profession” and “capital gains” respectively, the stamp
duty value is also to be considered. Thus there is inconsistency in the provisions
of section 194-IA and sections 43CA and 50C of the Act. |
| Note - |
| In case of non availibility of PAN :- TDS shall be at the rate specified or rate of 20% whichever is higher |
| TDS on Non-Filers of ITR under section 206AB (applicable w.e.f 01.07.2021) |
| In case of PAN |
Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. Twice the rate or rates in force; or 3. At the rate of 5% |
| In case of non availability of PAN |
Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. Twice the rate or rates in force; or 3. At the rate of twenty percent |
|
NOTE-1 1. The senior citizen is resident in India and of the age of 75 years or more during the previous year; 2. He has only pension income and may also have interest income from the same bank (specified bank – to be notified by the CG) in which he is receiving his pension income; 3. He shall be required to furnish a declaration to the specified bank. The declaration shall be containing such particulars, in such form and verified in such manner, as may be prescribed. 4.Specified bank would be required to compute income after giving effect to deductions allowable under Chapter VI-A and rebate under section 87A and deduct Income Tax on the base of rates in force. Once all done, there will not be requirement of furnishing return of income for this assessment year |
| TCS Rates |
|---|
| Section | Nature of Payment | Threshold Limit of Payment | Rates |
| 206C (1) | Sale of Scrap | 1% | |
| 206C (1) | Sale of Tendu Leaves | 5% | |
| 206C (1) | Sale of Timber obtained under a forest lease or other mode | 2.50% | |
| 206C (1) | Sale of Any other forest produce not being a Timber or tendu leaves | 2.50% | |
| 206C (1) | Sale of Alcoholic Liquor for Human Consumption | 1.% | |
| 206C (1) | Sale of Indian made for foreign liquor | 1.% | |
| 206C (1) | Sale of Minerals,coal lignite, Iron ore by a trader | 1.00% | |
| 206C (1C) | Lease or license of Parking lot, toll plaza, mining & quarrying | 2.% | |
| 206C (1F) | Sale Value of Motor vehicle whether in cheque or in any other mode of receipt |
Exceeding Rs. 10 Lakhs per transaction |
1.00% |
| 206 (1G) |
Remittance under liberalised Remittance Scheme of Reserve
Bank Of India Exceding Rs. 7 Lakh
(a) if the remittance is a loan obtained from any financial instituted as defined in section 80E, for the purpose of Persuing any education, (b) id the remittance is other than mentioned in (a) above. |
(a) 0.5% (applicable from 01.10.2020)
(b) 5% (applicable from 01.10.2020)
|
|
| 206 (1G) | Sale of Overseas Tour Package | 5% (applicable from 01.10.2020) | |
| 206 (1H) | Sale of goods in excess of Rs.50 Lakh in a year by seller | Whose turnover is more than Rs. 10 Crore | 0.1% |
| 206C | Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in a financial year if remitted amount is out of loan obtained from any financial institution u/s 80E for the purpose of pursuing any education |
0.5% (applicable from 01.10.2020) |
|
| 206C | Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in any other case | 5% (applicable from 01.10.2020) |
| Note: - | |
| In case of non availability of PAN :- |
Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. At the rate of 5% |
| TCS on Non-Filers of ITR under section 206CCA (applicable w.e.f 01.07.2021) |
Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. At the rate of 5% |
| Notes |
| Surcharges & Education Cess |
|
Type of Payment
|
Surcharge
|
Rate
|
Health and Education Cess (4.00%)
|
|||||||||||||||
| Salary (Residents) |
|
|
|
|||||||||||||||
| Other Payments to Residents |
|
|
|
|||||||||||||||
| Non Resident (other than company) |
> 50 crore but upto 1 crore
> 1 crore |
10%
15% |
Yes | |||||||||||||||
| Non Resident Company |
Between 1 crore and 10 crore
> 10 crore |
2%
5% |
Yes | |||||||||||||||
| Non Resident (Co-operative society & Firms) | > 1 crore | 12% | Yes | |||||||||||||||
| Other Payments to Residents |
|
|
|
| Interest for failure to deduct tax at source/delay in payment of TDS | ||||||
|
| Section | Nature of Payment | Threshold Limit of Payment | Rates | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 192 | Income from Salary |
|
Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) Or, Option to choose between New and Old Tax Slab Regime for Salaried Employees | ||||||
| 192A | Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%) | Rs. 50,000 | 10% | ||||||
| 193 | * Interest on Securities | Rs. 10,000 | 10% | ||||||
| 194 | Dividend | Rs. 5,000 | 10% (Tds shall not be deducted on Dividend paid or credited to Business trust by Special Purpose Vehicle or any other person as may be specified) | ||||||
| 194A | Interest from a Banking Company | Rs. 40,000 per annum for Others /Rs. 50,000 per annum for Senior citizen | 10% | ||||||
| 194A | Interest other than from a Banking Company | Rs. 5,000 per annum | 10% | ||||||
| 194B | Winning from Lotteries & Cross Word Puzzles | Rs. 10,000 per annum | 30% | ||||||
| 194BB | Winnings from horse races | Rs. 10,000 per annum | 30% | ||||||
| 194C | Payment to contractor/sub-contractor |
Rs.30,000 Per Contract (or) Rs. 1,00,000 per annum |
|
||||||
| 194D | Insurance Commision | Rs. 15,000 |
|
||||||
| 194DA | Payment under life insurance policy | Rs.1,00,000 per annum | 5% | ||||||
| 194EE | Out of deposit under NSS | Rs.2,500 | 10% | ||||||
| 194F | Payment on account of repurchase of units by Mutual Fund or Unit Trust of India |
20% |
|||||||
| 194G | Commission on Sale of Lottery Tickets | Rs. 15,000 | 2% | ||||||
| 194H | **Commission/Brokerage | Rs. 15,000 per annum | 2% | ||||||
| 194-I(a) | **Rent of Plant / Machinery | Rs. 2,40,000 per annum | 2% | ||||||
| 194-I(b) | **Rent of Land or building or furniture or fitting | Rs. 2,40,000 per annum | 10% | ||||||
| 194-IA | Payment or transfer of immovable property (other than rural agriculture land) | Rs. 50,00,000 & above | 1% | ||||||
| 194-IB | Rent payable by an individual or HUF not liable to tax audit | Rs.50,000 per month | 5% | ||||||
| 194-IC | Payment of monetary consideration under Joint Development Agreements | 10% | |||||||
| 194J | Fees for Professional / Technical Services / Royalty / Remuneration to director | Rs. 30,000 per annum |
|
||||||
| 194K | Income in respect of units of Mutual funds or specified company | Rs. 5,000 | 10% | ||||||
| 194LA | Compensation on acquisition of immovable Property | Rs. 2,50,000 | 10% | ||||||
| 194LBA(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. | 10% | |||||||
| 194LBB | Payment in respect of units of Investment funds u/s 115UB [other than income which is exempt under Section 10(23FBB)] | 10% | |||||||
| 194LBC(1) | Income in respect of investment made in a securitisation trust |
|
|||||||
| 194M | TDS on payment to resident contractors and professionals or by way of commission / brokerage (other than those who covered u/s 194C or 194J) by individual/HUF not liable for tax audit. | Rs. 50 lacs | 5% | ||||||
| 194N | TDS on cash withdrawal from Bank, Post office etc. | i) in excess of Rs. 1 crore | 2% | ||||||
| 194N |
TDS on cash withdrawal from Bank / Co-operative bank
/ Post office etc. |
ii) in excess of Rs. 20 lakhs* (* for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired) |
|
||||||
| 194-O | Tds on E-commerce participants | 5 Lakh | 1% | ||||||
| 194P | TDS on Senior Citizen above 75 Years | NOTE-1 | As per Rates in force | ||||||
| 194Q | Purchase of goods (w.e.f 01.07.2021) | 50 Lakh | 0.10% |
| * Only for Debenture in which the public are substantially interested |
| ** Other than Individual or HUF except those covered u/s 44AB |
| Note - |
| In case of non availibility of PAN :- TDS shall be at the rate specified or rate of 20% whichever is higher |
| TDS on Non-Filers of ITR under section 206AB (applicable w.e.f 01.07.2021) |
| In case of PAN |
Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. Twice the rate or rates in force; or 3. At the rate of 5% |
| In case of non availability of PAN |
Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. Twice the rate or rates in force; or 3. At the rate of twenty percent |
|
NOTE-1 Following conditions needs to be satisfied- 1. The senior citizen is resident in India and of the age of 75 years or more during the previous year; 2. He has only pension income and may also have interest income from the same bank (specified bank – to be notified by the CG) in which he is receiving his pension income; 3. He shall be required to furnish a declaration to the specified bank. The declaration shall be containing such particulars, in such form and verified in such manner, as may be prescribed. 4.Specified bank would be required to compute income after giving effect to deductions allowable under Chapter VI-A and rebate under section 87A and deduct Income Tax on the base of rates in force. Once all done, there will not be requirement of furnishing return of income for this assessment year |
| TCS Rates |
|---|
| Section | Nature of Payment | Threshold Limit of Payment | Rates |
| 206C (1) | Sale of Scrap | 1.00% | |
| 206C (1) | Sale of Tendu Leaves | 5.00% | |
| 206C (1) | Sale of Timber obtained under a forest lease or other mode | 2.50% | |
| 206C (1) | Sale of Any other forest produce not being a Timber or tendu leaves | 2.50% | |
| 206C (1) | Sale of Alcoholic Liquor for Human Consumption | 1.00% | |
| 206C | Sale of Indian made for foreign liquor | 1.00% | |
| 206C (1C) | Lease or license of Parking lot, toll plaza, mining & quarrying | 2.00% | |
| 206C (1) | Sale of Minerals,coal lignite, Iron ore by a trader | 1.00% | |
| 206C (1F) | Sale Value of Motor vehicle whether in cheque or in any other mode of receipt |
Exceeding Rs. 10 Lakhs per transaction |
1.00% |
| 206C | Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in a financial year if remitted amount is out of loan obtained from any financial institution u/s 80E for the purpose of pursuing any education |
0.5% (applicable from 01.10.2020) |
|
| 206C | Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in any other case | 5% (applicable from 01.10.2020) | |
| 206C | Selling of overseas tour package | 5% (applicable from 01.10.2020) | |
| 206C | Sale of goods (Other than those being exported) of value exceeding Rs. 50 Lakh in previous year whose total Sale/ gross receipts / turnover from business exceeds Rs 10 Crore during immediately financial year | Rs. 50 Lakhs | 0.1% (applicable from 01.10.2020) |
| Note: - | |
| In case of non availability of PAN :- |
Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. At the rate of 5% |
| TCS on Non-Filers of ITR under section 206CCA (applicable w.e.f 01.07.2021) |
Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. At the rate of 5% |
| Notes |
| Surcharges & Education Cess |
|
Type of Payment
|
Surcharge
|
Rate
|
Health and Education Cess (4.00%)
|
|||||||||||||||
| Salary (Residents) |
|
|
|
|||||||||||||||
| Other Payments to Residents |
|
|
|
| Interest for failure to deduct tax at source/delay in payment of TDS | ||||||
|
| Section | Nature of Payment | Threshold Limit of Payment | 01-04-2020 to 13-05-2020 | New rates from 14-05-2020 to 31-03-2021 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 192 | Income from Salary |
|
Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) | Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) | ||||||
| 192A | Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%) | Rs. 50,000 | 10% | 10% | ||||||
| 193 | * Interest on Securities | Rs. 10,000 | 10% | 7.5% | ||||||
| 194 | Dividend | 10% | 7.5% | |||||||
| 194A | Interest from a Banking Company | Rs. 40,000 per annum /Rs. 50,000 per annum for Senior citizen | 10% | 7.5% | ||||||
| 194A | Interest other than from a Banking Company | Rs. 5,000 per annum | 10% | 7.5% | ||||||
| 194B | Winning from Lotteries & Cross Word Puzzles | Rs. 10,000 per annum | 30% | 30% | ||||||
| 194BB | Winnings from horse races | Rs. 10,000 per annum | 30% | 30% | ||||||
| 194C | Payment to contractor/sub-contractor |
Rs.30,000 per contract (or) Rs. 1,00,000 per annum |
Individual/HUF 1% ,Others 2% | Individual/HUF 0.75% ,Others 1.5% | ||||||
| 194D | Insurance Commision | Rs. 15,000 |
|
|
||||||
| 194DA | Payment under life insurance policy | Rs.1,00,000 per annum |
|
|
||||||
| 194EE | Out of deposit under NSS | Rs.2,500 | 10% | 7.5% | ||||||
| 194F | Payment on account of repurchase of units by Mutual Fund or Unit Trust of India | 20% | 15% | |||||||
| 194G | Commission on Sale of Lottery Tickets | Rs. 15,000 | 5% | 2% | ||||||
| 194H | **Commission/Brokerage | Rs. 15,000 per annum | 5% | 2% | ||||||
| 194-I(a) | **Rent of Plant / Machinery | Rs. 2,40,000 per annum | 2% | 1.5% | ||||||
| 194-I(b) | **Rent of Land or building or furniture or fitting | Rs. 2,40,000 per annum | 10% | 7.5% | ||||||
| 194-IA | Payment or transfer of immovable property (other than rural agriculture land) | Rs. 50,00,000 & above | 1% | 0.75% | ||||||
| 194-IB | Rent payable by an individual or HUF not liable to tax audit | Rs.50,000 per month | 5% | 3.75% | ||||||
| 194-IC | Payment of monetary consideration under Joint Development Agreements | 10% | 7.5% | |||||||
| 194J | Fees for Professional / Technical Services / Royalty / Remuneration to director | Rs. 30,000 per annum |
|
|
||||||
| 194-K | Income in respect of units of Mutual funds or specified company | Rs. 5,000 | 10% | 7.5% | ||||||
| 194LA | Compensation on acquisition of immovable Property | Rs 2,50,000 | 10% | 7.5% | ||||||
| 194LBA(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. | 10% | 7.5% | |||||||
| 194LBB | Payment in respect of units of Investment funds u/s 115UB [other than income which is exempt under Section 10(23FBB)] | 10% | 7.5% | |||||||
| 194LBC(1) | Income in respect of investment made in a securitisation trust |
|
|
|||||||
| 194M | TDS on payment to resident contractors and professionals or by way of commission / brokerage (other than those who covered u/s 194C or 194J) by individual/HUF not liable for tax audit. | Rs. 50 lacs | 5% | 3.75% | ||||||
| 194N | TDS on cash withdrawal from Bank, Post office etc. | i) in excess of Rs. 1 crore | 2% | 2% | ||||||
| 194N | TDS on cash withdrawal from Bank, Post office etc. | ii) in excess of Rs. 20 lakhs* (* for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired) |
|
|
||||||
| 194-O | Tds on E-commerce participants | NA | 0.75% (w.e.f 01.10.2020) |
| * Only for Debenture in which the public are substantially interested |
| ** Other than Individual or HUF except those covered u/s 44AB |
| Note - |
| In case of non availibility of PAN :- Tds shall be at the rate specified or at the rate of 20% whichever is higher |
| Section | Nature of Payment | Threshold Limit of Payment | 01-04-2020 to 13-05-2020 | New rates from 14-05-2020 to 31-03-2021 |
|---|---|---|---|---|
| 206C (1) | Sale of Scrap | 1.00% | 0.75% | |
| 206C (1) | Sale of Tendu Leaves | 5.00% | 3.75% | |
| 206C (1) | Sale of Timber obtained under a forest lease or other mode | 2.50% | 1.875% | |
| 206C (1) | Sale of Any other forest produce not being a Timber or tendu leaves | 2.50% | 1.875% | |
| 206C (1) | Sale of Alcoholic Liquor for Human Consumption | 1.00% | 1.00% | |
| 206C | Sale of Indian made for foreign liquor | 1.00% | 1.00% | |
| 206C (1C) | Lease or license of Parking lot, toll plaza, mining & quarrying | 2.00% | 1.5% | |
| 206C (1) | Sale of Minerals, coal lignite, Iron ore by a trader | 1.00% | 0.75% | |
| 206C (1F) | Sale Value of Motor vehicle whether in cheque or in any other mode of receipt | Exceeding Rs. 10 Lakhs per transaction | 1.00% | 0.75% |
| Section | Nature of Payment | Threshold Limit of Payment | 01-04-2020 to 13-05-2020 | New rates from 14-05-2020 to 31-03-2021 |
|---|---|---|---|---|
| 206C (1) | Sale of Scrap | 1.00% | 0.75% | |
| 206C (1) | Sale of Tendu Leaves | 5.00% | 3.75% | |
| 206C (1) | Sale of Timber obtained under a forest lease or other mode | 2.50% | 1.875% | |
| 206C (1) | Sale of Any other forest produce not being a Timber or tendu leaves | 2.50% | 1.875% | |
| 206C (1) | Sale of Alcoholic Liquor for Human Consumption | 1.00% | 1.00% | |
| 206C | Sale of Indian made for foreign liquor | 1.00% | 1.00% | |
| 206C (1C) | Lease or license of Parking lot, toll plaza, mining & quarrying | 2.00% | 1.5% | |
| 206C (1) | Sale of Minerals, coal lignite, Iron ore by a trader | 1.00% | 0.75% | |
| 206C (1F) | Sale Value of Motor vehicle whether in cheque or in any other mode of receipt | Exceeding Rs. 10 Lakhs per transaction | 1.00% | 0.75% |
| Notes |
| Surcharges & Education Cess |
|
Type of Payment
|
Surcharge
|
Rate
|
Health and Education Cess (4.00%)
|
|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Salary (Residents) |
|
|
|
|||||||||||||||
| Other Payments to Residents | No | Nil |
No
|
| Interest for failure to deduct tax at source/delay in payment of TDS | ||||||
|
| Section | Nature of Payment | Threshold Limit of Payment | Rates | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 192 | Income from Salary |
|
Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) | ||||||
| 192A | Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%) | Rs. 50,000 | 10% | ||||||
| 193 | * Interest on Securities | Rs. 10,000 | 10% | ||||||
| 194 |
Dividend— Dividend other than the dividend as referred to in Section 115-O |
10% | |||||||
| 194A | Interest from a Banking Company | Rs. 40,000 per annum /Rs. 50,000 per annum for Senior citizen | 10% | ||||||
| 194A | Interest other than from a Banking Company | Rs. 5,000 per annum | 10% | ||||||
| 194B | Winning from Lotteries & Cross Word Puzzles | Rs. 10,000 per annum | 30% | ||||||
| 194BB | Winnings from horse races | Rs. 10,000 per annum | 30% | ||||||
| 194C | Payment to contractor/sub-contractor |
Rs.30,000 per contract (or) Rs. 1,00,000 per annum |
Individual/HUF 1% Others 2% | ||||||
| 194D | Insurance Commision | Rs. 15,000 |
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| 194DA | Payment under life insurance policy | Rs.1,00,000 per annum |
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| 194EE | Out of deposit under NSS | Rs.2,500 |
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| 194F | Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India | 20% | |||||||
| 194G | Commission on Sale of Lottery Tickets | Rs. 15,000 | 2% | ||||||
| 194H | **Commission/Brokerage | Rs. 15,000 per annum | 2% | ||||||
| 194-I(a) | **Rent on Plant / Machinery | Rs. 2,40,000 per annum | 2% | ||||||
| 194-I(b) | **Rent of Land or building or furniture or fitting | Rs. 2,40,000 per annum | 10% | ||||||
| 194-IA | Payment or transfer of immovable property (other than rural agriculture land) | Rs. 50,00,000 & above | 1% | ||||||
| 194-IB | Rent payable by an individual or HUF not liable to tax audit | Rs.50,000 per month | 5% | ||||||
| 194-IC | Payment of monetary consideration under Joint Development Agreements | 10% | |||||||
| 194J | Fees for Professional / Technical Services | Rs. 30,000 per annum |
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| 194LA | Compulsory Acquisition of immovable Property | Rs. 2,50,000 | 10% | ||||||
| 194LBA(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. | 10% | |||||||
| 194LBB(i) | Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)] | 10% | |||||||
| 194LBC(1) | Income in respect of investment made in a securitisation trust |
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| 194M | TDS on payment to resident contractors and professionals (other than those who covered u/s 194C or 194J) by individual/HUF not liable for tax audit. | Rs. 50 lacs | 5% (wef 01.09.2019) | ||||||
| 194N | TDS on cash withdrawal from Bank, Post office etc. | Rs. 1 crore | 2% (wef 01.09.2019) |
| * Only for Debenture in which the public are substantially interested |
| ** Other than Individual or HUF except those covered u/s 44AB |
| Note - |
| In case of non availibility of PAN :- Tds shall be at the rate specified or at the rate of 20% whichever is higher |
| Note - |
| In case of non availibility of PAN :- Tds shall be at the rate specified or at the rate of 20% whichever is higher |
| Section | Nature of Payment | Threshold Limit of Payment | Rates |
|---|---|---|---|
| 206C | Scrap | 1.00% | |
| 206C | Tendu Leaves | 5.00% | |
| 206C | Timber obtained under a forest lease or other mode | 2.50% | |
| 206C | Any other forest produce not being a Timber or tendu leave | 2.50% | |
| 206C | Alcoholic Liquor for Human Consumption | 1.00% | |
| 206C | Indian made Foreign liquor | 1.00% | |
| 206C | Parking lot, toll plaza, mining & quarrying | 2.00% | |
| 206C | Purchase of coal lignite, Iron ore by a trader | 1.00% | |
| 206C | Sale Value of Motor vehicle whether in cheque or in any other mode of receipt |
Exceeding Rs. 10 Lakhs per transaction |
1.00% |
| Notes |
| Surcharges & Education Cess |
| Type of Payment | Surcharge | Rate | Health and Education Cess (4.00%) | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Salary (Residents) |
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| Other Payments to Residents | No | Nil | No |
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Interest for failure to deduct tax at source/delay
in payment of TDS
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Note: Last updated on 03.10.2024