Section	Nature of Payment	Threshold Limit of Payment			Rates
			Basic Exemption Limit
			For Old regime	For New regime
192	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	Interest on Securities (including Listed Debentures)	Rs. 5,000 (Rs. 10,000 on 8% Savings (Taxable) Bonds, 2003)			10%
194	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%  (Reduced rate of 2% shall be wef 1.4.25 onwards)
					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.			Upto 30.9.24 : 5%  Wef 1.10.24 : 2%
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			Upto 30.9.24 : 20%  Wef 1.10.24 : NA
194G	Commission on Sale of Lottery Tickets	Rs. 15,000			Upto 30.9.24 : 5%  Wef 1.10.24 : 2%
194H	*Commission/Brokerage	Rs. 15,000 p.a.			Upto 30.9.24 : 5%  Wef 1.10.24 : 2%
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			Upto 30.9.24 : 5%  Wef 1.10.24 : 2%
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			Upto 30.9.24 : 5%  Wef 1.10.24 : 2%
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.			Upto 30.9.24 : 1.%  Wef 1.10.24 : 0.10.%
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%
194T	TDS on payment of salary, remuneration, interest, bonus or commission by partnership firm to partners for aggregate amounts more than Rs. 20,000 in the financial year	Rs. 20,000			FY 24-25 : Nil  FY 25-26 onwards : 10%
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-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 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% Note : For notifed items other than motor car, applicable wef 1.1.25.
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 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	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%

 

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) 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%

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	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	Interest on Securities (including Listed Debentures)	Rs. 5,000 (Rs. 10,000 on 8% Savings (Taxable) Bonds, 2003)			10%
194	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.			2%
194EE	Payment under National Savings Scheme	Rs.2,500			10%
194G	Commission on Sale of Lottery Tickets	Rs. 15,000			2%
194H	*Commission/Brokerage	Rs. 15,000 p.a.			2%
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.			2%
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			2%
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.			0.10%
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%
194T	TDS on payment of salary, remuneration, interest, bonus or commission by partnership firm to partners for aggregate amounts more than Rs. 20,000 in the financial year	Rs. 20,000			10%
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-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 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%

 

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) 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%

 

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 Super Senior Citizen (80 Years) Rs. 5,00,000 Others Rs. 2,50,000	Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) Or, Option to choose between New and Old Tax Slab Regime for Salaried Employees
192A	Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 30%)	Rs. 50,000	10%
193	*Interest on Securities	Rs. 10,000	10%
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/ Post Office (Other than on Securities)	Rs. 40,000 per annum for Others /Rs. 50,000 per annum for Senior citizen	10%
194A	Interest other than from a Banking Company	Rs. 5,000 per annum	10%
194B	Winning from Lotteries & Cross Word Puzzles, Card games and other games on any sort	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 Single Transaction (or) Rs. 1,00,000 Aggregate of transactions	Individual/HUF 1% Others 2%
194D	Insurance Commision	Rs. 15,000	Individual: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 per annum	5%
194E	Payment to non-resident sportsmen/sports association	Rs. 0	20% (The rate of TDS shall be increased by applicable surcharge and Health & Education cess.)
194EE	Payment of NSS Deposit	Rs.2,500	10%
194F	Payment on account of repurchase of units by Mutual Fund or Unit Trust of India	-	20%
194G	Commission on Sale of Lottery Tickets	Rs. 15,000	5%
194H	**Commission/Brokerage	Rs. 15,000 per annum	2%
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 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 / 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 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 unit holders.	-	10%
194LBB	Payment in respect of units of Investment funds u/s 115UB  [other than income which is exempt under Section 10(23FBB)]	-	10%
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 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	TDS on cash withdrawal from Bank, Post office etc.	i) in excess of Rs. 1 crore	2%
194N	TDS on cash withdrawal from Bank / Co-operative bank / Post office etc.	ii) in excess of Rs. 20 lakhs* (* for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired)	2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during 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
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%
194R	Benefits or perquisites arising from business or profession	Rs. 20, 000	10%
194S	TDS on payment for virtual Digital Assets of crypto currency (w.e.f 01.07.2022)	-	1%
206AA	TDS rate in case of Non availability of PAN	-	Higher of- As per act twice the rate of rate in force  20%
206AB	TDS on non-filers of ITR at higher rates	-	Higher of – 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 Payment	Rates
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 Lakhs per transaction	1.00%
206 (1G)	Remittance under liberalised Remittance Scheme of Reserve Bank Of India Exceding Rs. 7 Lakh (a) if the remittance is a loan obtained from any financial instituted as defined in section 80E, for the purpose of Persuing any education, (b) id the remittance is other than mentioned in (a) above.		(a) 0.5% (applicable from 01.10.2020) (b) 5% (applicable 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 more than Rs. 10 Crore	0.1%
206C	Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in a financial year if remitted amount is out of loan obtained from any financial institution u/s 80E for the purpose of pursuing any education		0.5% (applicable from 01.10.2020)
206C	Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh  in any other case		5% (applicable 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 50 Lacs to  1 Crore > 1 Crore but upto 2 Crore > 2 crore but upto 5 crore > 5 crore	Nil 10% 15% 25% 37%	Yes Yes Yes Yes Yes
Other Payments to Residents	No	Nil	No
Non Resident (other than company)	> 50 crore but upto 1 crore > 1 crore	10% 15%	Yes
Non Resident Company	Between 1 crore and 10 crore > 10 crore	2% 5%	Yes
Non Resident (Co-operative society & Firms)	> 1 crore	12%	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.2021-22

Section	Nature of Payment	Threshold Limit of Payment	Rates
192	Income from Salary	Senior Citizen (60 Years) Rs. 3,00,000 Super Senior Citizen (80 Years) Rs. 5,00,000 Others Rs. 2,50,000	Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) Or, Option to choose between New and Old Tax Slab Regime for Salaried Employees
192A	Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%)	Rs. 50,000	10%
193	* Interest on Securities	Rs. 10,000	10%
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 annum for Senior citizen	10%
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) Rs. 1,00,000 per annum	Individual/HUF 1% 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 Mutual Fund or Unit Trust of India		20%
194G	Commission on Sale of Lottery Tickets	Rs. 15,000	2%
194H	**Commission/Brokerage	Rs. 15,000 per annum	2%
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 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 / Royalty / Remuneration to director	Rs. 30,000 per annum	2% (For Call Centre & Fees for Technical Services & Royalty) 10% (For Others)
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 unit holders.		10%
194LBB	Payment in respect of units of Investment funds u/s 115UB  [other than income which is exempt under Section 10(23FBB)]		10%
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 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	TDS on cash withdrawal from Bank, Post office etc.	i) in excess of Rs. 1 crore	2%
194N	TDS on cash withdrawal from Bank / Co-operative bank / Post office etc.	ii) in excess of Rs. 20 lakhs* (* for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired)	2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during 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
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 Payment	Rates
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 (1C)	Lease or license of Parking lot, toll plaza, mining & quarrying		2.00%
206C (1)	Sale of Minerals,coal lignite, Iron ore by a trader		1.00%
206C (1F)	Sale Value of Motor vehicle whether in cheque or in any other mode of receipt	Exceeding Rs. 10 Lakhs per transaction	1.00%
206C	Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in a financial year if remitted amount is out of loan obtained from any financial institution u/s 80E for the purpose of pursuing any education		0.5% (applicable from 01.10.2020)
206C	Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh  in any other case		5% (applicable from 01.10.2020)
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 previous year whose total Sale/ gross receipts / turnover from business exceeds Rs 10 Crore during immediately financial year	Rs. 50 Lakhs	0.1% (applicable 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 50 Lacs to  1 Crore > 1 Crore but upto 2 Crore > 2 crore but upto 5 crore > 5 crore	Nil 10% 15% 25% 37%	Yes Yes Yes Yes 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

Section	Nature of Payment	Threshold Limit of Payment	01-04-2020 to 13-05-2020	New rates from 14-05-2020 to 31-03-2021
192	Income from Salary	Senior Citizen (60 Years) Rs. 3,00,000 Super Senior Citizen (80 Years) Rs. 5,00,000 Others Rs. 2,50,000	Average rate of Tax +  Health & Education Cess (Surcharge if Salary > 50 Lacs)	Average rate of Tax +  Health & Education Cess (Surcharge if Salary > 50 Lacs)
192A	Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%)	Rs. 50,000	10%	10%
193	* Interest on Securities	Rs. 10,000	10%	7.5%
194	Dividend		10%	7.5%
194A	Interest from a Banking Company	Rs. 40,000 per annum /Rs. 50,000 per annum for Senior citizen	10%	7.5%
194A	Interest other than from a Banking Company	Rs. 5,000 per annum	10%	7.5%
194B	Winning from Lotteries & Cross Word Puzzles	Rs. 10,000 per annum	30%	30%
194BB	Winnings from horse races	Rs. 10,000 per annum	30%	30%
194C	Payment to contractor/sub-contractor	Rs.30,000 per contract (or) Rs. 1,00,000 per annum	Individual/HUF 1% ,Others 2%	Individual/HUF 0.75% ,Others 1.5%
194D	Insurance Commision	Rs. 15,000	Resident:5% Domestic Company:10%	Resident:3.75% 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%
194F	Payment on account of repurchase of units by Mutual Fund or Unit Trust of India		20%	15%
194G	Commission on Sale of Lottery Tickets	Rs. 15,000	5%	2%
194H	**Commission/Brokerage	Rs. 15,000 per annum	5%	2%
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 or fitting	Rs. 2,40,000 per annum	10%	7.5%
194-IA	Payment or transfer of immovable property (other than rural agriculture land)	Rs. 50,00,000 & above	1%	0.75%
194-IB	Rent payable by an individual or HUF not liable to tax audit	Rs.50,000 per month	5%	3.75%
194-IC	Payment of monetary consideration under Joint Development Agreements		10%	7.5%
194J	Fees for Professional / Technical Services / Royalty / Remuneration to director	Rs. 30,000 per annum	2% (For Call Centre & Fees for  Technical Services & Royalty   ) 10% (For Others)	1.5% (For Call Centre & Fees for  Technical Services & Royalty   ) 7.5% (For Others)
194-K	Income in respect of units of Mutual funds or specified company	Rs. 5,000	10%	7.5%
194LA	Compensation on  acquisition of immovable Property	Rs 2,50,000	10%	7.5%
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 unit holders.		10%	7.5%
194LBB	Payment in respect of units of Investment funds u/s 115UB  [other than income which is exempt under Section 10(23FBB)]		10%	7.5%
194LBC(1)	Income in respect of investment made in a securitisation trust		Individual/HUF 25% Other 30%	Individual/HUF 18.75% Other 22.5%
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.	Rs. 50 lacs	5%	3.75%
194N	TDS on cash withdrawal from Bank, Post office etc.	i) in excess of Rs. 1 crore	2%	2%
194N	TDS on cash withdrawal from Bank, Post office etc.	ii) in excess of Rs. 20 lakhs* (* for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired)	2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year( from 01/07/2020)) 5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year ( from 01/07/2020)	2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year ( from 01/07/2020) 5% from the amount withdrawn in cash if the aggregate of the 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

Section	Nature of Payment	Threshold Limit of Payment	01-04-2020 to 13-05-2020	New rates from 14-05-2020 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 mode		2.50%	1.875%
206C (1)	Sale of Any other forest produce not being a Timber or tendu leaves		2.50%	1.875%
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%
206C (1C)	Lease or license of Parking lot, toll plaza, mining & quarrying		2.00%	1.5%
206C (1)	Sale of Minerals, coal lignite, Iron ore by a trader		1.00%	0.75%
206C (1F)	Sale Value of Motor vehicle whether in cheque or in any other mode of receipt	Exceeding Rs. 10 Lakhs per transaction	1.00%	0.75%

 

Notes

Surcharges & Education Cess

Type of Payment	Surcharge	Rate	Health and Education Cess (4.00%)
Salary (Residents)	Upto 50 Lacs 50 Lacs to  1 Crore > 1 Crore but upto 2 Crore > 2 crore but upto 5 crore > 5 crore	Nil 10% 15% 25% 37%	Yes Yes Yes Yes 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.2019-20

Section	Nature of Payment	Threshold Limit of Payment	Rates
192	Income from Salary	Senior Citizen (60 Years) Rs. 3,00,000 Super Senior Citizen (80 Years) Rs. 5,00,000 Others Rs. 2,50,000	Average rate of Tax +  Health & Education Cess (Surcharge if Salary > 50 Lacs)
192A	Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%)	Rs. 50,000	10%
193	* Interest on Securities	Rs. 10,000	10%
194	Dividend— Dividend other than the dividend as referred to in Section 115-O		10%
194A	Interest from a Banking Company	Rs. 40,000 per annum /Rs. 50,000 per annum for Senior citizen	10%
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) Rs. 1,00,000 per annum	Individual/HUF 1% 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	Upto 31-08-2019 : 1% w.e.f 01-09-2019 : 5%
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 India		20%
194G	Commission on Sale of Lottery Tickets	Rs. 15,000	2%
194H	**Commission/Brokerage	Rs. 15,000 per annum	2%
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 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.		10%
194LBB(i)	Investment fund paying an income to a unit holder  [other than income which is exempt under Section 10(23FBB)]		10%
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 who covered u/s 194C or 194J) by individual/HUF not liable for tax audit.	Rs. 50 lacs	5% (wef 01.09.2019)
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 50 Lacs to  1 Crore > 1 Crore but upto 2 Crore > 2 crore but upto 5 crore > 5 crore	Nil 10% 15% 25% 37%	Yes Yes Yes Yes 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 03.10.2024