| Section | For Payment Of | Threshold limit | TDS Rate % |
| 192 | Salary Income | Income Tax Slab | Slab rates (Based on old or new tax regimes) |
| 192A | EPF – Premature withdrawal | Rs. 50,000/- | 10% If no PAN, TDS @ 30% |
| 193 | Interest on Securities | Rs. 10,000/- | 10% |
| 193 | Interest on Debentures | Rs. 5,000/- | 10% |
| 194 | Dividend | Rs. 5,000/- | 10% (No TDS on Div Payouts by REITs / InvITs) |
| 194A | Interest other than on securities by banks / post office | Rs. 40,000/- (Rs.50,000/ – for Senior Citizens) | 10% |
| 194A | Interest other than on securities by others | Rs. 5,000/- | 10% |
| 194B | Winnings from Lotteries / Puzzle / Game | Rs. 10,000/- | 30% |
| 194BB | Winnings from Horse Race | Rs. 10,000/- | 30% |
| 194C | Payment to Contractors | Rs. 30,000/- for individual payment; Rs. 1,00,000/- in aggregate for the year | 1% (if payment is made to individual/ HUF) 2% (if payment is made to a person other than individual/ HUF) |
| 194D | Payment of Insurance Commission (Form 15G/H can be submitted) | Rs. 15,000/- | 5% (Individuals) 10% (Companies) |
| 194DA | Payment in respect of Life Insurance Policy | Rs. 1,00,000/- | 5% |
| 194E | Payment to non-resident sportsmen/sp orts association | – | 20% |
| 194EE | Payment of NSS Deposits | Rs. 2,500/- | 10% |
| 194F | Payment on account of repurchase of units by Mutual Fund or UTI | – | 20% |
| 194G | Commission on Sale of Lottery tickets | Rs. 15,000/- | 5% |
| 194H | Commission or Brokerage | Rs. 15,000/- | 5% |
| 194I | Rent of Land, Building or Furniture | Rs. 2,40,000/- | 10% |
| 194I | Rent of Plant & Machinery | Rs. 2,40,000/- | 2% |
| 194IB | Rent (Tenant has to deduct TDS) (Individuals who are not liable to Tax Audit) | Rs. 50,000/- (per month) | 5% |
| 194IA | Transfer of Immovable Property, | Rs. 50 lakh | 1% |
| other than Agricultural land | |||
| 194IC | Payment of monetary consideration under Joint Development Agreements | – | 10% |
| 194J | Fees for professional or technical services | Rs. 30,000/- | 2% (or) 10% |
| 194K | Dividend on units of Mutual Funds/Administrator of Specified Undertakings/ Specified Companies | Rs. 5,000/- | 10% |
| 194LA | Payment of compensation on acquisition of certain immovable property | Rs.2,50,000 | 10% |
| 194LB | Interest from Infrastructure Bond to NRI | – | 5% |
| 194LBA | Interest or dividend from special purpose vehicle on units of Business Trust to residents | – | 10% |
| 194LBA | Interest or dividend from special purpose vehicle on units of Business Trust to Non- residents | – | 5% (on payment of interest) 10% (on payment of dividend) |
| 194LBB | Income in respect of units of investment fund | – | 10% (for residents) |
| 194LBC | Income in respect of investment on securitization trust as per Section 115TCA | – | 25% (in case of Individual/ HUF); 30% (other persons) |
| 194LC | Interest by Indian Companies to Non-Residents in certain cases | – | 5% |
| 194LD | Interest on certain bonds and govt. Securities | – | 5% |
| 194M | Aggregate payment by an individual/HUF in pursuance of a contract, by way of commission or brokerage or by way of fees for professional services | Rs. 50 Lakh | 5% |
| 194N | 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 | > Rs 1cr | 2% |
| 194O | Payment of Certain Sums by E- commerce operator to E- commerce participant | Rs. 5,00,000/- | 1% |
| 194P | TDS on Senior Citizen above 75 Years (Non ITR filing cases) | – | Slab Rates |
| 194Q | Purchase of goods (applicable w.e.f. 01.07.2021) | Rs. 50 lakh | 0.10% |
| 194R | Providing a Benefit or Perquisite arising from Business or Profession | Rs. 20,000/- | 10% |
| 194S | TDS on payment for Virtual Digital Assets | – | 1% |
| 196A | Income in respect of units of Mutual Funds to Non- Residents | – | 20% |
| 196B | Income in respect of units referred in Section 115AB/ long term capital gain on such units arising to an Offshore Fund | – | 10% |
| 196C | Income by way of Interest/ Dividend/ Long term Capital Gains on bonds or Global Depository Receipts to Non- Residents | – | 10% |
| 196D | Income of Foreign Institutional Investors from Securities | – | 20% |
| 206AA | TDS rate in case of Non availability of PAN | – | Higher of – As per act Twice the rate or rate in force 20% |
| 206AB | TDS on non- filers of ITR at higher rates (applicable w.e.f 01.07.2021) | – | Higher of – 5% – Twice the rate in act – Twice the rate or rate in force |
TCS Rate Chart for FY 2022-2023 (AY 2023-2024)
| Section | Nature of Payment | TCS Rate % |
| 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 | 2.5% |
| 206C (1) | Sale of Any other forest produce not being Timber or tendu leaves | 2.5% |
| 206C (1) | Sale of Minerals, coal lignite, Iron ore by a trader | 1% |
| 206C (1) | Sale of Alcoholic Liquor for Human Consumption | 1% |
| 206C (1C) | Lease or license of the 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% |
| 206C(1G) | Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in a financial year if the remitted amount is out of loan obtained from any financial institution u/s 80E to pursue any education | 0.5% |
| 206C(1G) | Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in any other case | 5% |
| 206C(1G) | Selling of overseas tour package | 5% |
| 206C(1H) | Sale of goods (Other than those being exported) of value exceeding Rs. 50 Lakh where total Sale/ gross receipts/turnover from business exceeds Rs. 10 Crore during immediately financial year | 0.1% |
| 206CCA | TCS for non-filers of Income Tax Return | Higher of:Twice the rate; or 5% |
PDF version is attached: https://www.dpncindia.com/blog/wp-content/uploads/2022/05/TDS_TCS-Rate-Chart-FY-2022-23.pdf
Disclaimer
The information contained herein is in the summary form and is based on the Finance Act, 2022. While the information is believed to be accurate to the best of our knowledge, we do not make any representations or warranties, express or implied, as to the accuracy or completeness of this information. Reader should conduct and rely upon their own examination and analysis and are advised to seek their own professional advice. This note is not an offer, invitation, advice or solicitation of any kind. We accept no responsibility for any errors it may contain, whether caused by negligence or otherwise or for any loss, howsoever caused or sustained, by the person who relies upon it.
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