| 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
