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 TDS / TCS RATES FOR F.Y.2023-24

SECTION NATURE OF PAYMENT THRESHOLD LIMIT OF PAYMENT RATES

BASIC EXEMPTION LIMIT

FOR OLD FOR NEW

REGIME REGIME

192 INCOME FROM SALARY SUPER SENIOR RS. 5,00,000 RS. 3,00,000 AVERAGE RATE OF TAX + HEALTH &
CITIZEN (80 EDUCATION CESS (SURCHARGE IF SALARY
YEARS OR MORE) > 50
LACS) TDS
SENIOR CITIZEN RS. 3,00,000 RS. 3,00,000 AS PER TAX REGIME SELECTED BY
(60 YEARS OR EMPLOYEE. IF NOT SELECTED, TDS
MORE) DEDUCTION AS PER NEW REGIME.

OTHERS RS. 2,50,000 RS. 3,00,000

192A PREMATURE WITHDRAWAL RS. 50,000 PAN AVAILABLE : 10%

FROM EPF PAN NOT AVAILABLE : 20%

193 INTEREST ON SECURITIES RS. 5,000 10%

(INCLUDING LISTED (RS. 10,000 ON 8% SAVINGS
DEBENTURES) (TAXABLE) BONDS, 2003)

194 DIVIDEND RS. 5,000 10%

194A *INTEREST (OTHER THAN ON SENIOR CITIZEN : RS. 50,000 10%
SECURITIES) BY A BANKING P.A. OTHERS : RS.
COMPANY/ POST OFFICE 40,000 P.A.

194A INTEREST (OTHER THAN ON RS. 5,000 P.A. 10%

SECURITIES) BY OTHERS

194B WINNING FROM LOTTERIES & RS. 10,000 P.A. 30%

CROSS WORD PUZZLES, CARD
GAMES AND OTHER GAMES
ON ANY SORT (OTHER THAN
WINNING FROM ONLINE
GAMES)

194BA WINNING FROM ONLINE NO LIMIT 30%

GAMES

194BB WINNINGS FROM HORSE RS. 10,000 P.A. 30%

RACES

194C *PAYMENT TO RS.30,000 SINGLE TRANSACTION INDIVIDUAL/HUF : 1%

CONTRACTOR/SUB- (OR) OTHERS : 2%
CONTRACTOR
RS. 1,00,000 AGGREGATE OF
TRANSACTIONS

194D INSURANCE COMMISION RS. 15,000 OTHER THAN COMPANY :5%

DOMESTIC COMPANY:10%
194DA PAYMENT UNDER LIFE RS.1,00,000 P.A. 5%
INSURANCE POLICY (THE TAX
SHALL BE DEDUCTED ON THE
AMOUNT OF INCOME
COMPRISED IN INSURANCE
PAY-OUT)

194EE PAYMENT UNDER NATIONAL RS.2,500 10%

SAVINGS SCHEME

194F PAYMENT ON ACCOUNT OF NO LIMIT 20%

REPURCHASE OF UNITS BY
MUTUAL FUND OR UNIT
TRUST OF INDIA

194G COMMISSION ON SALE OF RS. 15,000 5%

LOTTERY TICKETS

194H *COMMISSION/BROKERAGE RS. 15,000 P.A. 5%

194-I(A) *RENT OF PLANT / RS. 2,40,000 P.A. 2%

MACHINERY

194-I(B) *RENT OF LAND OR BUILDING RS. 2,40,000 P.A. 10%

OR FURNITURE OR FITTING

194-IA PAYMENT OR TRANSFER OF RS. 50,00,000 & ABOVE 1%

IMMOVABLE (ON THE HIGHER OF AMOUNT OF
PROPERTY (OTHER THAN CONSIDERATION OR THE STAMP DUTY
RURAL AGRICULTURE LAND) VALUE)
194-IB RENT PAYABLE BY AN RS.50,000 PER MONTH 5%
INDIVIDUAL OR HUF NOT
LIABLE TO TAX AUDIT

194-IC PAYMENT OF MONETARY NO LIMIT 10%

CONSIDERATION UNDER JOINT
DEVELOPMENT AGREEMENTS
TO RESIDENT INDIVIDUAL/HUF

194J *FEES FOR PROFESSIONAL / RS. 30,000 P.A. (RS. 0 IN CASE OF 2% (FOR CALL CENTRE, FEES FOR
TECHNICAL SERVICES / DIRECTORS) TECHNICAL SERVICES & ROYALTY IN CASE
ROYALTY / REMUNERATION TO OF CINEMATOGRAH FILMS)
DIRECTOR
10% (FOR PROFESSIONAL SERVICES,
DIRECTOR REMUNERATION AND OTHER
ROYELTY)

194K INCOME IN RESPECT OF UNITS RS. 5,000 10%

OF MUTUAL FUNDS OR
SPECIFIED COMPANY

194LA COMPENSATION ON RS. 2,50,000 10%

ACQUISITION OF IMMOVABLE
PROPERTY
194LBA(1) BUSINESS TRUST SHALL NO LIMIT 10%
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.

194LBB PAYMENT IN RESPECT OF NO LIMIT 10%

UNITS OF INVESTMENT FUNDS
U/S 115UB [OTHER THAN
INCOME WHICH IS EXEMPT
UNDER SECTION 10(23FBB)]

194LBC(1) INCOME IN RESPECT OF NO LIMIT INDIVIDUAL OR HUF: 25%

INVESTMENT MADE IN A OTHER : 30%
SECURITISATION TRUST

194M PAYMENT TO RESIDENT RS. 50 LACS 5%

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.
194N AGGREGATE CASH RS. 20 LAKHS CASH WITHDRAWAL BETWEEN RS. 20
WITHDRAWAL FROM BANK / LAKHS TO RS. 1 CRORE : 2%
CO-OPERATIVE BANK / POST
OFFICE ETC. (* BY PERSONS CASH WITHDRAWAL ABOVE RS. 1 CRORE :
WHO HAVE NOT FILED ITR FOR 5%
3 PREVIOUS YEARS
IMMEDIATELY PRECEDING THE
PREVIOUS YEAR AND THE DUE
DATE FOR FILING ITR UNDER
SECTION 139(1) HAS EXPIRED)

194N AGGREGATE CASH RS. 1 CRORE 2%

WITHDRAWAL FROM BANK,
POST OFFICE ETC. IN CASE OF
OTHERS.

194-O PAYMENT BY E-COMMERCE INDIVIDUAL /HUF : RS. 5 LAKH 1%

OPERATOR TO E-COMMERCE OTHERS : NO LIMIT.
PARTICIPANTS

194P TDS DEDUCTION BY BANK IN RS. 3,00,000 AS PER RATES IN FORCE

CASE OF SPECIFIED SENIOR
CITIZEN ABOVE 75 YEARS
DRAWING PENSION
(NOTE-1)

194Q PAYMENT FOR PURCHASE OF 50 LAKHS 0.1% (ON THE VALUE ABOVE RS. 50
GOODS LAKHS)

194R BENEFITS OR PERQUISITES RS. 20, 000 10%

ARISING FROM BUSINESS OR
PROFESSION
 194S PAYMENT OF CONSIDERATION BY SPECIFIED PERSONS(NOT 1%
FOR TRANSFER OF VIRTUAL HAVING INCOME PGBP OR LESS
DIGITAL ASSETS OF CRYPTO THAN 1CR/50 LAKH) : RS. 50,000
CURRENCY BY OTHERS : RS. 10,000

206AA TDS RATE IN CASE OF NON - HIGHER OF-

AVAILABILITY OF PAN
RATES IN FORCE

20%

206AB TDS ON NON-FILERS OF ITR AT - HIGHER OF -

HIGHER RATES
– 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 RATES

PAYMENT

206C (1) ALCOHOLIC LIQUOR FOR HUMAN SALE 1.00%

CONSUMPTION

206C (1) INDIAN MADE FOR FOREIGN LIQUOR SALE 1.00%

206C (1) MINERALS,COAL LIGNITE, IRON ORE SALE 1.00%

BY A TRADER

206C (1F) MOTOR VEHICLE SALE SALE VALUE 1.00%

EXCEEDING RS. 10 LAKHS
PER TRANSACTION

206C (1C) PARKING LOT, TOLL PLAZA, MINING LEASE OR LICENSE 2.00%
& QUARRYING

206C (1) SCRAP SALE 1%

206C (1) TENDU LEAVES SALE 5%

206C (1) TIMBER OBTAINED UNDER A FOREST SALE 2.50%

LEASE OR OTHER MODE

206C (1) ANY OTHER FOREST PRODUCE NOT SALE 2.50%

BEING A TIMBER OR TENDU LEAVES
206 (1H) GOODS OTHER THOSE SPECIFIED SALE WHOSE TURNOVER IS 0.10%
SEPARATELY IN EXCESS OF RS.50 MORE THAN RS. 10
LAKH IN A YEAR BY SELLER CRORE

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 FOREIGN REMITTANCE RS. 7 LACS 0.50%
LOAN FOR EDUCATION OBTAINED
FROM ANY FINANCIAL
INSTITUTIONDEFINED IN SECTION
80E

206 (1G) REMITTANCE UNDER LRS OF FOREIGN REMITTANCE RS. 7 LACS 5%

RBIFOREDUCATION IN OTHER CASES
OR FOR MEDICAL TREATMENT

ANY OTHER REMITTANCE FOREIGN REMITTANCE 7 LACS UPTO 30 SEP 2023:

5%
FROM 1 OCT 2023 :
20%

206CC TCS RATE IN CASE OF NON - HIGHER OF-

AVAILABILITY OF PAN
TWICE THE RATE

5%
 206CCA TCS ON NON-FILERS OF ITR AT - HIGHER OF -
HIGHER RATES
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) YES

25% (NEW REGIME)

OTHER PAYMENTS TO NO NIL NO

RESIDENTS

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%

TDS / TCS RATES FOR F.Y.2022-23

Section Nature of Payment Threshold Limit of Payment Rates

192 Income from Salary Senior Citizen (60 Years) Rs. 3,00,000 Average rate of Tax + Health & Education
Cess (Surcharge if Salary > 50 Lacs) Or,
Super Senior Citizen (80 Rs. 5,00,000 Option to choose between New and Old Tax
Years) Slab Regime for Salaried Employees

Others Rs. 2,50,000

192A Premature Withdrawal from Rs. 50,000 10%

EPF (wef 01.06.2015) (*If PAN
not furnished Rate of TDS at
Maximum Mariginal Rate of
30%)

193 *Interest on Securities Rs. 10,000 10%

 Section Nature of Payment Threshold Limit of Payment Rates

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 Rs. 40,000 per annum for Others /Rs. 50,000 per annum for Senior 10%
Company/ Post Office (Other citizen
than on Securities)

194A Interest other than from a Rs. 5,000 per annum 10%
Banking Company

194B Winning from Lotteries & Rs. 10,000 per annum 30%
Cross Word Puzzles, Card
games and other games on
any sort

194BB Winnings from horse races Rs. 10,000 per annum 30%

194C Payment to contractor/sub- Rs.30,000 Single Transaction (or) Individual/HUF 1%

contractor Rs. 1,00,000 Aggregate of transactions
Others 2%

194D Insurance Commision Rs. 15,000 Individual:5%

Domestic Company:10%

194DA Payment under life insurance Rs.1,00,000 per annum 5%

policy (The tax shall be
deducted on the amount of
income comprised in
insurance pay-out)
 Section Nature of Payment Threshold Limit of Payment Rates

194E Payment to non-resident Rs. 0 20% (The rate of TDS shall be increased by
sportsmen/sports association applicable surcharge and Health &
Education cess.)

194EE Payment of NSS Deposit Rs.2,500 10%

194F Payment on account of - 20%

repurchase of units by Mutual
Fund or Unit Trust of India

194G Commission on Sale of Lottery Rs. 15,000 5%

Tickets

194H **Commission/Brokerage Rs. 15,000 per annum 5%

194-I(a) **Rent of Plant / Machinery Rs. 2,40,000 per annum 2%

194-I(b) **Rent of Land or building or Rs. 2,40,000 per annum 10%

furniture or fitting

194-IA Payment or transfer of Rs. 50,00,000 & above ***1%

immovable property (other
than rural agriculture land)

194-IB Rent payable by an individual Rs.50,000 per month 5%

or HUF not liable to tax audit

194-IC Payment of monetary - 10%

consideration under Joint
Development Agreements
 Section Nature of Payment Threshold Limit of Payment Rates

194J Fees for Professional /
Technical Services / Royalty /
Remuneration to director
Rs. 30,000 per annum (Rs. 0 in case of Directors)
2% (For Call Centre & Fees for Technical
Services & Royalty)
10% (For Professional Services)

194K Income in respect of units of Rs. 5,000 10%

Mutual funds or specified
company

194LA Compensation on acquisition Rs. 2,50,000 10%

of immovable Property

194LBA(1) Business trust shall deduct tax - 10%

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.

194LBB Payment in respect of units of - 10%

Investment funds u/s 115UB
[other than income which is
exempt under Section
10(23FBB)]
 Section Nature of Payment
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.
194N TDS on cash withdrawal from
Bank, Post office etc.
194N TDS on cash withdrawal from
Bank / Co-operative bank /
Post office etc.
194-O Tds on E-commerce
participants
Threshold Limit of Payment Rates
-
Individual or HUF 25%
Other 30%
Rs. 50 lacs 5%
i) in excess of Rs. 1 crore 2%
ii) in excess of Rs. 20 lakhs* (* for those persons who have not filed 2% from the amount withdrawn in cash
return of income (ITR) for three previous years immediately if the aggregate of the amount of
preceding the previous year in which cash is withdrawn, and the withdrawal exceeds Rs. 20 lakhs during
due date for filing ITR under section 139(1) has expired)
the previous year
5% from the amount withdrawn in cash
if the aggregate of the amount of
withdrawal exceeds Rs. 1 crore during
the previous year
5 Lakh 1%
 Section Nature of Payment Threshold Limit of Payment Rates

194P TDS on Senior Citizen above NOTE-1 As per Rates in force

75 Years

194Q Purchase of goods (w.e.f 50 Lakh 0.10%

01.07.2021)

194R Benefits or perquisites arising Rs. 20, 000 10%

from business or profession

194S TDS on payment for virtual - 1%

Digital Assets of crypto
currency (w.e.f 01.07.2022)

206AA TDS rate in case of Non - Higher of-

availability of PAN As per act twice the rate of rate in force
20%

206AB TDS on non-filers of ITR at - Higher of

higher rates – 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

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 Rates

Payment

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 1.00%
Lakhs per
transaction

206 (1G) Remittance under liberalised Remittance Scheme of Reserve Bank Of India Exceding Rs. 7 Lakh (a) 0.5%
(a) if the remittance is a loan obtained from any financial instituted as defined in section 80E, for the (applicable from
purpose of Persuing any education, 01.10.2020)
(b) 5% (applicable
(b) id the remittance is other than mentioned in (a) above.
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 0.1%
more than Rs. 10
Crore

206C Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in a 0.5% (applicable
financial year if remitted amount is out of loan obtained from any financial institution u/s 80E for the from 01.10.2020)
purpose of pursuing any education

206C Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in any 5% (applicable
other case 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) 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% Yes

Other Payments to No Nil No

Residents

Non Resident (other > 50 crore but upto 1 crore 10% Yes
than company) > 1 crore 15%

Non Resident Between 1 crore and 10 crore 2% Yes

Company > 10 crore 5%

Non Resident (Co- > 1 crore 12% Yes

operative society &
Firms)

Other Payments to
No Nil No
Residents

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%

TDS / TCS RATES FOR F.Y.2021-22

Section Nature of Payment Threshold Limit of Payment Rates

192 Income from Salary Average rate of Tax + Health &

Senior Citizen (60 Rs. 3,00,000
Education Cess (Surcharge if Salary >
Years)
50 Lacs) Or, Option to choose
Super Senior Citizen Rs. 5,00,000 between New and Old Tax Slab
(80 Years) Regime for Salaried Employees

Others Rs. 2,50,000

192A Premature Withdrawal from EPF (wef 01.06.2015) (*If Rs. 50,000 10%
PAN not furnished Rate of TDS at Maximum
Mariginal Rate of 34.608%)

193 * Interest on Securities Rs. 10,000 10%

Section Nature of Payment Threshold Limit of Payment Rates

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 10%
annum for Senior citizen

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)

Individual/HUF 1%
Rs. 1,00,000 per annum
Others 2%

194D Insurance Commision Rs. 15,000

Resident:5%

Domestic Company:10%

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 20%

Mutual Fund or Unit Trust of India
Section Nature of Payment Threshold Limit of Payment Rates

194G Commission on Sale of Lottery Tickets Rs. 15,000 5%

194H **Commission/Brokerage Rs. 15,000 per annum 5%

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 Rs. 50,00,000 & above 1%
than rural agriculture land)

194-IB Rent payable by an individual or HUF not liable to Rs.50,000 per month 5%
tax audit

194-IC Payment of monetary consideration under Joint 10%

Development Agreements

194J Fees for Professional / Technical Services / Royalty / Rs. 30,000 per annum
2% (For Call Centre & Fees for
Remuneration to director
Technical Services & Royalty)

10% (For Others)

194K Income in respect of units of Mutual funds or Rs. 5,000 10%

specified company

194LA Compensation on acquisition of immovable Rs. 2,50,000 10%

Property
Section Nature of Payment Threshold Limit of Payment Rates

194LBA(1) Business trust shall deduct tax while distributing, 10%

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.

194LBB Payment in respect of units of Investment funds u/s 10%

115UB [other than income which is exempt under
Section 10(23FBB)]

194LBC(1) Income in respect of investment made in a

Individual or HUF 25%
securitisation trust
Other 30%

194M TDS on payment to resident contractors and Rs. 50 lacs 5%

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.

194N TDS on cash withdrawal from Bank, Post office etc. i) in excess of Rs. 1 crore 2%
Section Nature of Payment Threshold Limit of Payment Rates

194N TDS on cash withdrawal from Bank / Co-operative ii) in excess of Rs. 20 lakhs* (* for those persons
2% from the amount withdrawn in
bank / Post office etc. who have not filed return of income (ITR) for three
cash if the aggregate of the
previous years immediately preceding the previous
amount of withdrawal exceeds Rs.
year in which cash is withdrawn, and the due date
20 lakhs during the previous year
for filing ITR under section 139(1) has expired)
5% from the amount withdrawn in
cash if the aggregate of the
amount of withdrawal exceeds Rs.
1 crore during the previous year

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 Rates

Payment

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 Lease or license of Parking lot, toll plaza, mining & quarrying 2.00%
(1C)

206C (1) Sale of Minerals,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 1.00%
(1F) Lakhs per transaction

206C Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 0.5% (applicable from
Lakh in a financial year if remitted amount is out of loan obtained from any financial 01.10.2020)
institution u/s 80E for the purpose of pursuing any education

206C Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 5% (applicable from 01.10.2020)
Lakh in any other case

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 Rs. 50 Lakhs 0.1% (applicable from
previous year whose total Sale/ gross receipts / turnover from business exceeds Rs 10 01.10.2020)
Crore during immediately financial year

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)
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% 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%

TDS / TCS RATES FOR F.Y.2020-21

01-04-2020 to 13-05- New rates from 14-05-2020 to

Section Nature of Payment Threshold Limit of Payment 2020 31-03-2021

192 Income from Salary Average rate of Tax + Average rate of Tax + Health &
Senior Citizen Rs. 3,00,000
Health & Education Cess Education Cess (Surcharge if Salary
(60 Years)
(Surcharge if Salary > 50 > 50 Lacs)
Super Senior Rs. 5,00,000 Lacs)
Citizen (80
Years)

Others Rs. 2,50,000

192A Premature Withdrawal from EPF (wef Rs. 50,000 10% 10%
01.06.2015) (*If PAN not furnished Rate
of TDS at Maximum Mariginal Rate of
34.608%)

193 * Interest on Securities Rs. 10,000 10% 7.5%

 01-04-2020 to 13-05- New rates from 14-05-2020 to
Section Nature of Payment Threshold Limit of Payment 2020 31-03-2021

194 Dividend 10% 7.5%

194A Interest from a Banking Company Rs. 40,000 per annum /Rs. 50,000 10% 7.5%
per annum for Senior citizen

194A Interest other than from a Banking Rs. 5,000 per annum 10% 7.5%
Company

194B Winning from Lotteries & Cross Word Rs. 10,000 per annum 30% 30%
Puzzles

194BB Winnings from horse races Rs. 10,000 per annum 30% 30%

194C Payment to contractor/sub-contractor Rs.30,000 per contract (or) Individual/HUF 1% ,Others Individual/HUF 0.75% ,Others 1.5%
Rs. 1,00,000 per annum 2%

194D Insurance Commision Rs. 15,000

Resident:5% Resident:3.75%

Domestic Company:10% Domestic Company:10%

194DA Payment under life insurance policy Rs.1,00,000 per annum

Upto 31-08-2019 : 1 %

w.e.f 01-09-2019 : 5% 3.75%

194EE Out of deposit under NSS Rs.2,500 10% 7.5%

 01-04-2020 to 13-05- New rates from 14-05-2020 to
Section Nature of Payment Threshold Limit of Payment 2020 31-03-2021

194F Payment on account of repurchase of 20% 15%

units by Mutual Fund or Unit Trust of
India

194G Commission on Sale of Lottery Tickets Rs. 15,000 5% 3.75%

194H **Commission/Brokerage Rs. 15,000 per annum 5% 3.75%

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 Rs. 2,40,000 per annum 10% 7.5%
or fitting

194-IA Payment or transfer of immovable Rs. 50,00,000 & above 1% 0.75%

property (other than rural agriculture
land)

194-IB Rent payable by an individual or Rs.50,000 per month 5% 3.75%

HUF not liable to tax audit

194-IC Payment of monetary consideration 10% 7.5%

under Joint Development Agreements

194J Fees for Professional / Technical Rs. 30,000 per annum

2% (For Call Centre & 1.5% (For Call Centre & Fees for
Services / Royalty / Remuneration to
Fees for Technical Technical Services & Royalty )
director
Services & Royalty )
7.5% (For Others)
10% (For Others)
 01-04-2020 to 13-05- New rates from 14-05-2020 to
Section Nature of Payment Threshold Limit of Payment 2020 31-03-2021

194-K Income in respect of units of Mutual Rs. 5,000 10% 7.5%

funds or specified company

194LA Compensation on acquisition of Rs 2,50,000 10% 7.5%

immovable Property

194LBA(1) Business trust shall deduct tax while 10% 7.5%

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.

194LBB Payment in respect of units of 10% 7.5%

Investment funds u/s 115UB [other
than income which is exempt under
Section 10(23FBB)]

194LBC(1) Income in respect of investment made

Individual/HUF 25% Individual/HUF 18.75%
in a securitisation trust
Other 30% Other 22.5%
 01-04-2020 to 13-05- New rates from 14-05-2020 to
Section Nature of Payment Threshold Limit of Payment 2020 31-03-2021

194M TDS on payment to resident Rs. 50 lacs 5% 3.75%

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.

194N TDS on cash withdrawal from Bank, i) in excess of Rs. 1 crore 2% 2%

Post office etc.

194N TDS on cash withdrawal from Bank, ii) in excess of Rs. 20 lakhs* (* for
2% from the amount 2% from the amount withdrawn
Post office etc. those persons who have not filed
withdrawn in cash if the in cash if the aggregate of the
return of income (ITR) for three
aggregate of the amount of withdrawal exceeds
previous years immediately
amount of withdrawal Rs. 20 lakhs during the previous
preceding the previous year in
exceeds Rs. 20 lakhs year ( from 01/07/2020)
which cash is withdrawn, and the
during the previous
due date for filing ITR under section 5% from the amount withdrawn
year( from 01/07/2020))
139(1) has expired) in cash if the aggregate of the
5% from the amount amount of withdrawal exceeds
withdrawn in cash if the Rs. 1 crore during the previous
aggregate of the year ( from 01/07/2020)
amount of withdrawal
exceeds Rs. 1 crore
during the previous
year ( from 01/07/2020)

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

TCS RATES

01-04-2020 to 13- New rates from 14-05-2020

Section Nature of Payment Threshold Limit of Payment 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 2.50% 1.875%
mode

206C (1) Sale of Any other forest produce not being a Timber or 2.50% 1.875%
tendu leaves

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%

 01-04-2020 to 13- New rates from 14-05-2020
Section Nature of Payment Threshold Limit of Payment 05-2020 to 31-03-2021

206C Lease or license of Parking lot, toll plaza, mining & 2.00% 1.5%
(1C) quarrying

206C (1) Sale of Minerals, coal lignite, Iron ore by a trader 1.00% 0.75%

206C Sale Value of Motor vehicle whether in cheque or in any Exceeding Rs. 10 Lakhs per 1.00% 0.75%
(1F) other mode of receipt transaction

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% Yes

 Type of Payment Surcharge Rate Health and Education Cess (4.00%)

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%

TDS / TCS RATES FOR F.Y.2019-20

Section Nature of Payment Threshold Limit of Payment Rates

192 Income from Salary Average rate of Tax + Health &

Senior Rs. 3,00,000
Education Cess (Surcharge if
Citizen (60
Salary > 50 Lacs)
Years)

Super Senior Rs. 5,00,000

Citizen (80
Years)

Others Rs. 2,50,000

Section Nature of Payment Threshold Limit of Payment Rates

192A Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate Rs. 50,000 10%
of TDS at Maximum Mariginal Rate of 34.608%)

193 * Interest on Securities Rs. 10,000 10%

194 Dividend— 10%

Dividend other than the dividend as referred to in Section 115-O

194A Interest from a Banking Company Rs. 40,000 per annum /Rs. 10%
50,000 per annum for Senior
citizen

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) Individual/HUF 1% Others 2%

Rs. 1,00,000 per annum

194D Insurance Commision Rs. 15,000

Resident:5%

Domestic Company:10%

194DA Payment under life insurance policy Rs.1,00,000 per annum

Upto 31-08-2019 : 1%

w.e.f 01-09-2019 : 5%
Section Nature of Payment Threshold Limit of Payment Rates

194EE Out of deposit under NSS Rs.2,500

Individual or HUF 10%

Other NA

194F Payment on account of repurchase of unit by Mutual Fund or Unit Trust of 20%
India

194G Commission on Sale of Lottery Tickets Rs. 15,000 5%

194H **Commission/Brokerage Rs. 15,000 per annum 5%

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
2% (For Call Centre)

10% (For Others)

194LA Compulsory Acquisition of immovable Property Rs. 2,50,000 10%

194LBA(1) Business trust shall deduct tax while distributing, any interest received or 10%
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.
Section Nature of Payment Threshold Limit of Payment Rates

194LBB(i) Investment fund paying an income to a unit holder [other than income 10%
which is exempt under Section 10(23FBB)]

194LBC(1) Income in respect of investment made in a securitisation trust

Individual or HUF 25%

Other 30%

194M TDS on payment to resident contractors and professionals (other than those Rs. 50 lacs 5% (wef 01.09.2019)
who covered u/s 194C or 194J) by individual/HUF not liable for tax audit.

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
TCS RATE

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)
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% 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%

Note: Last updated on 26.04.2022

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