Current TDS rate for FY 2022-23
TDS section list with thresholds
In this post, we will provide you with a list of TDS rates for different types of Income/Payments.
List of TDS rates for FY 2022-23
SECTION | NATURE OF PAYMENT | THRESHOLD | RATE |
|---|---|---|---|
192 (now Section 392(7))Â | Income from Salary | RS 2,50,000 | Slab Rate Applicable |
192A (now Section 392(7)) | Payment of accumulated balance due to an employee made by the trustees of the Employees’ Provident Fund | RS 50,000 | 10% |
193 (now Section 393(1) Sl.5(i))Â | Interest on Debentures & Securities | RS 10,000 | 10% |
194 (now Section 393(1) Sl.7)Â | Dividend (Other than listed companies) | RS 5,000 | 10% |
194A (now Section 393(1) Sl.5(ii)/(iii))Â | Other Interest | RS 40,000(RS 50,000 for Senior Citizens) | 10% |
194B (now Section 393(3) Sl.1)Â | Winnings from Lotteries / Puzzle / Game | RS 10,000 | 30% |
194BB | Winnings from Horse Race | RS 10,000 | 30% |
194C (now Section 393(1) Sl.6(i))Â | Payment to Contractors | Single Payment- RS 30,000 Multiple Payment – RS 75,000 | 1%Â – Individuals/HUF2%Â – Others |
194D (now Section 393(1) Sl.1(I))Â | Payment of Insurance Commission | RS 15,000 | 5%Â – Other than Company10% – Company |
194DA | Payment in respect of life insurance policy | RS 1,00,000 | 5% |
194E (now Section 393(2) Sl.1)Â | Payment to non-resident sportsmen or sports association | – | 20% |
194EE (now Section 393(3) Sl.6)Â | Withdrawal from NSS | RS 2,500 | 10% |
194F | Repurchase of Units by MF/UTIÂ | Â | 20% |
194G (now Section 393(3) Sl.4)Â | Commission on Sale of Lottery Tickets | RS 15,000 | 5% |
194H (now Section 393(1) Sl.1(ii))Â | Commission or Brokerage | RS 5.000 | 5% |
194I(a) | Rent of Plant & Machinery | RS 2,40,000 | 2% |
194I(b) | Rent of Land, Building, Furniture, etc | RS 2,40,000 | 10% |
194J(a) | Fee for Technical Services/Royalty/Operating Call Centre | RS 30,000 | 2% |
194J(a) | Fee for Professional Services | RS 30,000 | 10% |
194K | Income From Mutual Fund Units | RS 5,000 | 10% |
194LA | Compensation on Compulsory Acquisition of immovable property | RS 2,50,000 | 10% |
194LB | Income by way of interest from Infrastructure Debt Fund | – | 5% |
194LBA(a) | Certain income in the form of interest from units of a business trust to a residential unit holder | – | 10% – Resident5% – Non-Resident |
194LBA(b) | Certain income in the form of dividend from units of a business trust to a residential unit holder | – | 10% |
194LBB | Income in respect of units of investment fund | – | 10% – Resident30%Â – Non-Resident Other than Company40% – Non-Resident Company |
194LBC | Income in respect of investment in securitization trust | – | 25% – Resident individual/HUF30% – Resident Others30% – Non-Resident Other than Company40% – Non-Resident Company |
194LC | Income by way of interest from specified company payable to a non-resident | – | 5% |
194LC | Income by way of monies borrowed way of issue of any long-term bond or rupee denominated bond | – | 4% |
194M (now Section 393(1) Sl.6(iv)) | TDS on Payments to resident Contractors or Professionals by Individual/HUF | RS 50 Lakhs | 5% |
194N (now Section 393(3) Sl.5)Â | Cash withdrawal exceeding 1 crore by a person with a banking company, co-operative society engaged in the business of banking or Post Office | 1 CR | 2% |
194NF | Cash withdrawal by a Non-Filer Income Tax Returns | Amounts exceeding Rs. 20 Lakhs and not exceeding Rs. 1 Crore. | 2% |
194NF | Cash withdrawal by a Non-Filer Income Tax Returns | Amounts exceeding Rs. 1 Crore | 5% |
194O (now Section 393(1) Sl.8(v))Â | Payment of certain sums by the e-commerce operator to e-commerce participant | RS 5 Lakh | 1% |
194P | TDS on income only from Pension / Interest by Senior Citizen above 75 Years | – | Slab rate applicable for senior citizens |
194Q (now Section 393(1) Sl.8(ii)) | Purchase of Goods | RS 50 Lakhs | 0.1% |
195 (now Section 393(2) Sl.17)Â | Income from investments – made by an NRI | – | 20% |
195 (now Section 393(2) Sl.17)Â | income from long-term capital gains under Section 115E for an NRI | – | 10% |
195 (now Section 393(2) Sl.17)Â | Income from long-term capital gains | – | 10% |
195 (now Section 393(2) Sl.17)Â | Short-term capital gains under Section 111A | – | 15% |
195 (now Section 393(2) Sl.17)Â | Any other income from long-term capital gains | – | 20% |
195 (now Section 393(2) Sl.17)Â | Interest payable on money borrowed in foreign currency | – | 20% |
195 (now Section 393(2) Sl.17)Â | Income from royalty payable by the Government or an Indian concern | – | 10% |
195 (now Section 393(2) Sl.17)Â | Income from royalty other than that which is payable by the Government or an Indian concern | – | 10% |
195 (now Section 393(2) Sl.17)Â | Income from fees for technical services payable by the Government or an Indian concern | – | 10% |
195 (now Section 393(2) Sl.17)Â | Any other source of income | – | 50% Company30% Others |
196A | Income in respect of Units of Non-residents | – | 20% |
196B | Income and Long-term Capital gain from units of an Offshore fund | – | 10% |
196C | Income and Long-term Capital Gain from Foreign Currency Bonds or shares of Indian Companies | – | 10% |
196D | Income of Foreign Corporate Investors for Securities | – | 20% or Rate as per DTAA whichever is lower |
206AB | TDS on non-filers of ITR at higher rates(Applicable w.e.f 1st July 2021) | – | Twice the rate specified or 5% whichever is higher |
With that, we have come to the end of the post on TDS rates for FY 2022-2023.
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