Latest TDS rate chart for the financial year 2022-23 and assessment year 2023-24

 Latest TDS rate chart for the financial year 2022-23 and assessment year 2023-24 to help you calculate and error-free.

TDS Rate Chart for FY 2022-23

SectionNature of Payment Threshold (Rs.) Individual / HUF TDS Rates (%)Others
TDS Rate (%)
192SalariesRs. 2,50,000Slab RatesSlab Rates
192APremature  EPF withdrawalRs. 50,00010%10%
193Interest on Government securitiesRs. 10,00010%10%
194Payment of dividendRs. 5,00010%10%
194AInterest issued by banks or post offices on depositsRs. 40,000
Rs. 50,000 (For senior citizens)
194AInterest by others apart from on securitiesRs. 5,00010%10%
194BAmounts that someone has won through lotteries, puzzles, or gamesRs. 10,00030%30%
194BBAmounts that someone has won from horse racesRs. 10,00030%30%
194CPayments to contractor or sub-contractor – Single PaymentsRs. 30,0001%2%
194CPayments to contractor/sub-contractor – Aggregate PaymentsRs. 1,00,0001%2%
194DPayment of insurance commission to domestic companiesRs. 15,000NA10%
194DPayment of insurance commission to companies other than domestic onesRs. 15,0005%NA
194DAMaturity of Life Insurance PolicyRs. 1,00,0005%5%
194EEPayment of an amount standing to the credit of an individual under NSS (National Savings Scheme)Rs. 250010%10%
194FPayment of repurchase of unit by UTI (Unit Trust of India) or any mutual fundNo Limit20%20%
194GPayments or commission on sale of lottery ticketsRs. 15,0005%5%
194HCommission or brokerageRs. 15,0005%5%
194IRent of land, building, or furnitureRs. 2,40,00010%10%
194IRent of plant and machineryRs. 2,40,0002%2%
194IAPayment for transfer of immovable property other than agricultural landRs. 50,00,0001%1%
194IBRent payment that is made by an individual or HUF not covered under payment 194IRs. 50,000 (per month)5%NA
194ICPayment that are made under Joint Development Agreement (JDA) to Individual/HUFNo Limit10%10%
194JFees paid for professional servicesRs. 30,00010%10%
194JAmount paid for technical servicesRs. 30,0002%2%
194JAmounts paid as royalty for sale/distribution/exhibition of cinematographic filmsRs. 30,0002%2%
194KPayment of income for units of a mutual fund, for example- dividendsRs. 5,00010%10%
194LAPayment made for compensation for acquiring certain immovable propertyRs. 2,50,00010%10%
194LBPayment of interest on infrastructure  bonds to Non-Resident IndiansNA5%5%
194LBA(1)Certain income distributed by a business trust among its unit holderNA10%10%
194LDPayment of interest on rupee-denominated bonds, municipal debt security, and government securitiesNA5%5%
194MAmounts paid for contract, brokerage, commission or professional fee (other than 194C, 194H, 194J)Rs. 50,00,0005%5%
194NIn case cash withdrawal over a certain amount takes place from the bank, and ITR is filedRs. 1,00,00,0002%2%
194NIn case cash withdrawal takes place from a bank and one does not file ITRRs. 20,00,0002%2%
194OAmount paid for the sale of products/services by e-commerce service providers via their digital platformRs. 5,00,0001%1%
194QPayments made for the purchase of goodsRs. 50,00,0000.10%0.10%
194STDS on the payment of any crypto or other virtual assetNA1%1%
206AATDS for non-availability of PANNAAt a rate higher ofSpecified rate as per the act20%Rate in force
206ABTDS on non-filers of Income tax returnNARate higher of:5%Twice the mentioned rate in provisionRate in force

FAQ’s on TDS rates

1. Is TDS mandatory for companies?

Yes, the deduction of tax at source (TDS) on salary is compulsory under section 192 of the Income Tax act. An employer who pays wages to his/her employee must deduct TDS from the salary if the total income exceeds a certain threshold.

2. What is the TDS rates for contractors?

TDS Rate for Contractors is 1% in case the payment is made to an individual or HUF and 2% for others.

3. What is the TDS rate on salary?

TDS rate on salary means that tax has been deducted by the employer at the time of depositing the salary into the employee’s account.

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