TDS Rate Chart F.Y. 2024-25:– The Income Tax Department has published the TDS rate chart for the financial year 2024–25. TDS is a system where tax is taken out by the payer when making certain payments like salary, interest, commission, rent, etc. The person or organization making the payment, called the deductor, takes out a portion of tax from the payment before giving it to the receiver, known as the deductee. Not paying the TDS on time can lead to penalties.
TDS and How it works
TDS is taken from payments like interest and salary and sent to the government within a set time. The deductor, who takes out the TDS, must report details of the deduction and deposit in TDS returns regularly. They also give a TDS certificate to the person who had tax deducted. This certificate shows details like the type of payment and the amount of tax held back. The person who had tax deducted can claim this amount while filing their tax return. They subtract the total TDS deducted from their overall tax liability for the year.
TDS Rate Chart F.Y. 2024-25
Here’s the information presented in a table format:
| Section | Nature of Payment | Threshold | Individual/HUF TDS rates | Others TDS Rate |
|---|---|---|---|---|
| 192 | Salaries | Rs. 2,50,000 | Slab rates | Slab rates |
| 192A | Premature EPF withdrawal | Rs. 50,000 | 10% | 10% |
| 193 | Interest on Securities | Rs. 10,000 | 10% | 10% |
| 194 | Dividend | Rs. 5000 | 10% | 10% |
| 194A | Interest by banks/post offices on deposits | Rs. 40,000 | 10% | 10% |
| 194A | Interest by banks/post offices on deposits (For Senior citizens) | Rs. 50,000 | 10% | 10% |
| 194A | Interest by others apart from on securities | Rs. 5,000 | 10% | 10% |
| 194B | Lottery, puzzles, or games winnings | Aggregate of Rs. 10,000 | 30% | 30% |
| 194BB | Winnings from horse races | Rs. 10,000 | 30% | 30% |
| 194C | Payments to contractor/sub-contractor (Single Payments) | Rs. 30,000 | 1% | 2% |
| 194C | Payments to contractor/sub-contractor (Aggregate Payments) | Rs. 1,00,000 | 1% | 2% |
| 194D | Insurance commission (Domestic Companies) | Rs. 15,000 | NA | 5% |
| 194D | Insurance commission (Companies other than domestic) | Rs. 15,000 | 5% | NA |
| 194DA | Maturity of Life Insurance Policy | Rs. 1,00,000 | 5% | 5% |
| 194EE | NSS (National Savings Scheme) | Rs. 2500 | 10% | 10% |
| 194F | Repurchase of unit by UTI or mutual fund | No Limit | 20% | 20% |
| 194G | Commission on sale of lottery tickets | Rs. 15,000 | 5% | 5% |
| 194H | Commission or brokerage | Rs. 15,000 | 5% | 5% |
| 194I | Rent of land or furniture | Rs. 2,40,000 | 10% | 10% |
| 194I | Rent of plant and machinery | Rs. 2,40,000 | 2% | 2% |
| 194IA | Transfer of immovable property (other than agricultural land) | Rs. 50,00,000 | 1% | 1% |
| 194IB | Rent payment by individual or HUF not covered under 194I | Rs. 50,000 (Per month) | 5% | NA |
| 194IC | Payments made under Joint Development Agreement (JDA) to Individual/HUF | No Limit | 10% | 10% |
| 194J | Professional fees | Rs. 30,000 | 10% | 10% |
| 194J | Technical services | Rs. 30,000 | 2% | 2% |
| 194J | Royalty for sale/distribution/exhibition of films | Rs. 30,000 | 2% | 2% |
| 194K | Mutual fund income | Rs. 5,000 | 10% | 10% |
| 194LA | Compensation for acquiring immovable property | Rs. 2,50,000 | 10% | 10% |
| 194LB | Interest on infrastructure bonds to Non-Resident Indians | NA | 5% | 5% |
| 194LBA(1) | Income distributed by business trust among unit holders | NA | 10% | 10% |
| 194LD | Interest on rupee-denominated bonds, municipal debt security, and government securities | NA | 5% | 5% |
| 194M | Contract, brokerage, commission, or professional fee | Rs. 50,00,000 | 5% | 5% |
| 194N | Cash withdrawal from bank (with/without ITR) | Rs. 1,00,00,000 / Rs. 20,00,000 | 2% | 2% |
| 194O | Sale of products/services by e-commerce providers via digital platform | Rs. 5,00,000 | 1% | 1% |
| 194Q | Purchase of Goods | Rs. 50,00,000 | 0.10% | 0.10% |
| 194S | Payment of any crypto or other virtual asset | NA | 1% | 1% |
| 206AA | TDS for non-availability of PAN | NA | 20% | 20% |
| 206AB | TDS on non-filers of Income tax return | NA | Higher of: 1.5%, twice the rate in provision, or rate in force | NA |
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