TDS Chart for the FY 2022-2023 (AY 2023-24)

Section Deductee Nature of transaction Threshold(Rs) TDS Rate Remarks
192 R (or) NR Salary  Basic exemption limit of the employee Normal Slab Rate (or) New Tax Regime Slab Rate as opted by employee  
192A R (or) NR Payment of accumulated balance of PF taxable in the hands of an employee 50,000 10%  
193 R Interest on securities Debentures of a Public company- 5,000
8% Savings (Taxable) Bonds 2003 or 7.75% Savings (Taxable) Bonds 2018- 10,000
Other Securities- No limit
10%  
194 R Payment of any dividend 5,000 10%  
194A R Interest other than “Interest on securities” 
from deposits with banks/ post office/ co-operative society


from other than bank deposit/post office deposit/co-operative society(e.g Interest from friends and relatives)


Senior Citizens- 50,000
Others- 40,000


5,000



10%

10%



10%
Individual/ HUF, whose total sales, gross receipts or turnover from business/profession does not exceed 1 crore rupees in case of business or 50  lakh rupees in case of profession during PY 2021-2022 is not liable to deduct TDS under this section
194B R (or) NR (or) FC Winnings from lotteries, crossword puzzles, card games and any other games of any type 10,000 30%  
194BB R (or) NR (or) FC Winnings from Horse races 10,000 30%  
194C R Payment to contractor/ sub-contractor Single transaction- 30,000Aggregate transactions- 1,00,000 Status of the deductee:Individual/ HUF – 1%Other than individual/ HUF – 2% Individual/ HUF, whose total sales, gross receipts or turnover from business/profession does not exceed 1 crore rupees in case of business or 50  lakh rupees in case of profession during PY 2021-2022 is not liable to deduct TDS under this sectionNo TDS is required to be deducted by Individual/HUF where the payment is made for personal purpose
194D R Insurance Commission 15,000 Status of the deductee:Domestic companies – 10%Other than companies – 5%  
194DA R Payment in  respect of Life Insurance policy 1,00,000 5% on the income component ( Maturity proceeds- Total Premium paid)  
194E NR (or) FC Payment to non-resident sportsmen or non-resident entertainer ( not a citizen of India) or sports association No limit 20% + Surcharge + Cess  
194EE R (or) NR Payment in respect of deposits under National Savings Scheme 2,500 10%  
194G R (or) NR (or) FC Commission, remuneration etc on the sale of lottery tickets 15,000 5%   
194H R Commission or brokerage 15,000 5% Individual/ HUF, whose total sales, gross receipts or turnover from business/profession does not exceed 1 crore rupees in case of business or 50  lakh rupees in case of profession during PY 2021-2022 is not liable to deduct TDS under this section
194-I R Rent on Plant and machinery
Land/ Building/ Furniture & Fittings

2,40,000

2,40,000

2%

10%
Individual/ HUF, whose total sales, gross receipts or turnover from business/profession does not exceed 1 crore rupees in case of business or 50  lakh rupees in case of profession during PY 2021-2022 is not liable to deduct TDS under this section
194-IA R Payment in consideration of transfer of certain immovable property other than agricultural land 50,00,000 1% TDS is to be deducted on the sum paid or credited by the transferee or the SDV of such property, whichever is higher.
194-IB R Payment of rent by Individual or HUF not covered u/s 194-I 50,000 per month 5% TDS shall be deducted at the time of credit/ payment of rent whichever is earlier for the last month of the PY or the last month of tenancy.
194-IC R Payment of monetary consideration under Joint Development Agreements to individual/HUF No limit 10% TDS is not required to be deducted on consideration in kind
194J R Fees for professional or technical services:Sum paid or payable towards fees for technical services

Sum paid or payable towards royalty in the nature of consideration for sale/ distribution or exhibition of cinematograph films


Any sum paid by way of fee for professional services, remuneration/fee/commission to director, not carrying out any activity concerning any business, not sharing and know-how, patents, copyright etcDirector sitting fees

30,000






30,000









30,000





No limit

2%






2%









10%





10%
Threshold limit of Rs. 30,000/- is applicable for each nature of paymentIndividual/ HUF, whose total sales, gross receipts or turnover from business/profession does not exceed 1 crore rupees in case of business or 50  lakh rupees in case of profession during PY 2021-2022 is not liable to deduct TDS under this sectionNo TDS is required to be deducted by Individual/HUF where the payment is made for personal purposeNo TDS to be deducted by Individual/ HUF on Royalty and non-compete fees ( even if commercial)
194K R Payment of any income for units of a mutual fund or UTI 5,000 10%  
194LA R Compensation on compulsory acquisition of certain immovable property 2,50,000 10% No TDS on compensation received for compulsory acquisition of any agricultural land.
194M R Payments by Individual/HUF not liable to deduct TDS under section 194C, 194H and 194J Aggregate 50,00,000for a year 5%  
194N R (or) NR Cash withdrawal 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.
In excess of Rs. 1 croreFor persons who have not filed ITR for 3 PYs immediately preceding the PY in which cash is withdrawn and due date for ITR filing u/s 139(1) has expired. TDS rate under this case shall be:Aggregate amount of withdrawal   exceeds Rs. 20 lakhs but upto 1 crore during the PYAggregate amount of withdrawal   exceeds Rs. 1 crore during the PY








1 crore








20 lakhs





1 crore








2% on the amount in excess of Rs. 1crore







2% on the amount in excess of Rs. 20 lakhs




5% on the amount in excess of Rs. 1 crore
 
194O R Payment or credit of amount for the sale of goods or provision of services by the e-commerce through its digital or electronic facility or platform to resident e-commerce participant


No limit


1% of Gross Amount of Sale of Goods/ Services
If e-commerce participant is Individual/ HUF and if the Gross amount of sale of goods/ services does not exceed Rs. 5 lakhs in a year then no TDS is required to be deducted.In case PAN is not furnished by the payee, the TDS Rate shall be 5%
194P R Tax deduction by specified bank (scheduled bank) in case of a specified senior citizen  Basic exemption limit of specified senior citizen Normal Slab Rate (or) New Tax Regime Slab Rate as opted by specified senior citizen Specified senior citizen should be: a resident in Indiaaged 75 years or more during the PYreceiving only two incomes i.e Pension income and Interest receivable from the specified bank in which he is receiving the pension incomeSpecified senior citizen is not required to furnish ITR u/s 139(1)
194Q R Purchase of goods  50 lakhs 0.10% on the amount in excess of Rs. 50 lakhs Buyer should be a resident or a NR having a PE in India whose total sales, gross receipts or turnover from business exceeds Rs. 10 crore If PAN is not furnished by the seller, the TDS Rate will be 5%
194R R TDS on Benefit or perquisite whether convertible into money or not of a business or a profession (applicable w.e.f 01/07/2022) 20,000 10% of the value or aggregate value of such benefit or perquisite This section is not applicable to Individual/ HUF whose sales, gross receipts or turnover does not exceed 1 crore rupees in case of business or 50 lakhs rupees in case of profession during the preceding PY
194S R TDS on transfer of Virtual Digital Assets (applicable w.e.f 01/07/2022)Individual/ HUF not having income from business or profession or having income from business or profession but the income does not exceed 1 crore in case of business or 50 lakhs in case of professionOther Payers



50,000






10,000




1% on the payment of purchase consideration



1% on the payment of purchase consideration
 

Author

Angi H

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