TDS / TCS Rates
TDS / TCS RATES FOR F.Y.2024-25
| SECTION | NATURE OF PAYMENT | THRESHOLD | Indv / HUF | OTHERS |
|---|---|---|---|---|
| Rs. | TDS Rate (%) | TDS Rate (%) | ||
| 192 | Salaries | – | Slab Rate | Slab Rate |
| 192A | Premature withdrawal from EPF | 50000 | 10 | – |
| 193 | Interest on Securities | 10000 | 10 | 10 |
| 194 | Dividends | 5000 | 10 | 10 |
| 194A | Interest (Banks) | 40000 | 10 | 10 |
| 194A | Interest – Senior Citizen (Banks) | 50000 | 10 | – |
| 194A | Interest (Others) | 5000 | 10 | 10 |
| 194B | Winning from Lotteries | 10000 | 30 | 30 |
| 194BA | Winnings from online games | – | 30 | 30 |
| 194BB | Winnings from Horse RaceContractor – Single Transaction | 10000 | 30 | 30 |
| 194C | Contractor – Single TransactionContractor – Single Transaction | 30000 | 1 | 2 |
| 194C | Contractor – During the F.Y. | 1 Lakh | 1 | 2 |
| 194C | Transporter (44AE) declaration with PAN | – | – | – |
| 194D | Insurance Commission (15G-15H allowed) | 15000 | 5 | 10 |
| 194DA | Payment received – Life insurance Policy | 1 Lakh | 1 | 1 |
| 194EE | Payment received – National Savings Scheme (NSS) | 2500 | 10 | 10 |
| 194F | Repurchase Units by MFs | – | 20 | 20 |
| 194G | Commission – Lottery | 15000 | 5 | 5 |
| 194H | Commission / Brokerage | 15000 | 5 | 5 |
| 194I(a) | Rent for Plant & Machinery | 2.40 Lakh | 2 | 2 |
| 194I(b) | Rent of Land Building & Furniture | 2.40 Lakh | 10 | 10 |
| 194IA | Transfer of certain immovable property other than agricultural land | 50 Lakh | 1 | 1 |
| 194IB | Rent payment by individual / HUF not covered u/s 194I | 50,000 p.m. | 5 | NA |
| 194IC | Payment under specified Joint Development Agreement | – | 10 | 10 |
| 194J (a) | Fees – Technical Services, Call Centre, Royalty, Distribution / Exhibition of Cinematography Films, etc. | 30000 | 2 | 2 |
| 194J (b) | Fees – All other Professional Services | 30000 | 10 | 10 |
| 194K | Payment of dividend by mutual funds | 5000 | 10 | 10 |
| 194LA | Compensation on transfer of certain immovable property other than agricultural land | 2.50 Lakh | 10 | 10 |
| 194LB | Income by way of interest from infrastructure debt fund (non-resident) | – | 5 | 5 |
| 194LBA | Certain income from units of a business trust (applicable from 01.10.2014) | – | 10 | 10 |
| 194LBB | Income in respect of investment of investment fund | – | 10% for residents, 30% for non-residents | 10% for residents, 40% for non-residents |
| 194LBC | Income in respect of investment in securitization trust | – | 30% for residents, 40% for non-residents, 25% for individual & HUF | 30% for residents, 40% for non-residents, 25% for individual & HUF |
| 194LD | Interest on certain bonds and Govt. Securities (from 01.06.2013) | 5 | 5 |
|
| 194M | Payment made for Contracts, Brokerage or Professional Fees etc. by Individual and HUF (other than sections 194C, 194H and 194J) | 50 Lakh | 5 | 5 |
| 194N | Cash withdrawal in excess of 1 crore during the previous year from 1 or more account with a bank or co-operative society (w.e.f 01.09.2019) | 1 Crore (Rs. 3 Crores, if withdrawal is by co-operative society) | 2 | 2 |
| 20 Lakhs (if ITR not filed for previous 3 years) | 2 (Rs. 20 Lakhs – 1 Crore) | 2 |
||
| 5 (Rs. 1 Crore and above) | 5 |
|||
| 194O | TDS on e-commerce participants | 5 Lakh | 1%(01.10.2020) | 1% (01.10.2020) |
| 194P | TDS in case of Specified Senior Citizen (above 75 years) having Salary & Interest (ITR not required) | Slab Rate | NA |
|
| 194Q | TDS on Purchase of Goods exceeding Rs. 50 Lakhs (Applicable From 01-July-2021) | In Excess of Rs. 50 Lakhs | 0.1 | 0.1 |
| 194R | Benefits or perquisites of business or profession | 20000 | 10 | 10 |
| 194S | Payment of consideration for transfer of virtual digital asset by persons other than specified person | 10000 | 1 | 1 |
| Payment of consideration for transfer of virtual digital asset by specified person | 50000 | 1 | 1 |
|
| 194SP | Payment for transfer of virtual digital asset where payment is in kind or in exchange of another virtual digital asset and tax required to be deducted is paid before such payment is released | 10000 | 1 | 1 |
TCS RATE CHART FY: TDS / TCS Rate Chart FY: 2024-25 (AY: 2025-26) Collection Codes under section 206C
| Code | Nature of Payment | TCS Rate % |
|---|---|---|
| A | Alcoholic Liquor for human consumption & Tendu leaves | 1 |
| B | Timber obtained under a forest lease or other mode | 2.5 |
| C | Timber obtained under any other mode other than forest lease | 2.5 |
| D | Any other forest produce not being a timber or Tendu leaves | 2.5 |
| E | Scarp | 1 |
| F | Parking Lot | 2 |
| G | Toll Plaza | 2 |
| H | Mining & Quarrying | 2 |
| I | Tendu Leaves | 5 |
| J | Minerals | 1 |
| K | Bullion & Jewellery | 1 |
| L | Sale of Motor Vehicle | 1 |
| M | Sale in cash of any goods(other than bullion) | 1 |
| N | Providing of any service (other than Ch-XVII-B) | 1 |
| O | Tour Program Package | 5 |
| P | LRS – Educational Loan – Financial Institution | 0.5 |
| Q | LRS-other purposes – Liberalized Remittance Scheme | 5 |
| R | Sale of Goods | 0.1 |
| T | LRS – Education or Medical Treatment not covered under Code P | 5 |
TDS / TCS RATES FOR F.Y.2023-24
| SECTION | NATURE OF PAYMENT | THRESHOLD LIMIT OF PAYMENT | RATES | ||
|---|---|---|---|---|---|
| BASIC EXEMPTION LIMIT | |||||
| FOR OLD REGIME | FOR NEW REGIME | ||||
| 192.0 | 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% |
||
| 193.0 | INTEREST ON SECURITIES (INCLUDING LISTED DEBENTURES) | RS. 5,000 (RS. 10,000 ON 8% SAVINGS (TAXABLE) BONDS, 2003) | 10% | ||
| 194.0 | 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. | 5% | ||
| 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 | 20% | ||
| 194G | COMMISSION ON SALE OF LOTTERY TICKETS | RS. 15,000 | 5% | ||
| 194H | *COMMISSION/BROKERAGE | RS. 15,000 P.A. | 5% | ||
| 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 | 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 | 5% | ||
| 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. | 1% | ||
| 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% | ||
| 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 –
NO ITR FILING BY SENIOR CITIZEN IF ALL THE FOLLOWING CONDITIONS ARE SATISFIED:
- THE SENIOR CITIZEN IS RESIDENT IN INDIA.
- HE IS OF THE AGE OF 75 YEARS OR MORE DURING THE PREVIOUS YEAR.
- 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;
- HE HAS FURNISHED A DECLARATION IN FORM 12BBA TO THE SPECIFIED BANK.
- 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.
- 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% |
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% |