TDS Rates for AY 2023-24 (FY 2022-23)

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Last updated on August 24th, 2022 at 06:48 pm

192SalarySlab Rates
192AAccumulated balance of taxable PF 10%
193Interest on securities10%
194AInterest other than “Interest on securities”10%
194BIncome by way of winnings from
• Lotteries,
• Crossword puzzles,
• Card games and
• Any other games
194BBIncome by way of winnings from horse races30%
194CPayment to contractor/sub-contractor
a) Individual/HUF
b) Others
194DInsurance Commission5%
194DAWhen payment is made for life insurance policy5%
194EEWhen NSC matures or is withdrawn before maturity 10%
194FWhen units of MF or UTI are repurchased20%
194GCommission on sale of lottery tickets5%
194HCommission or brokerage5%
a) Plant & Machinery
b) Land or building or furniture or fitting

194IASale of immovable property other than agricultural land1%
194IBWhen rent above Rs 50,000 per month is paid by an individual or HUF not liable to tax audit5%
194ICWhen monetary consideration is paid under Joint Development Agreements10%
194JFees for professional or technical services:
i)  Technical services
ii)  Royalty for sale, distribution, or exhibition of cinematographic films;
iii) For business of operation of call center 
iv) Any other sum

194KIncome in respect of units payable to a resident person10%
194LAPayment of compensation on acquisition of certain immovable property10%
194LBA(1) A business trust shall deduct tax while distributing, any interest received or receivable by it from an 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%
194LBBInvestment fund paying an income to a unit holder [other than income which is exempt u/s 10(23FBB)10%
194LBC Income in respect of investment made in a securitization trust specified u/s 115TCA
• Individual or HUF
• Any other person

194MPayment of commission (not being insurance commission), brokerage, contractual fee, or professional fee to a resident person by an Individual or a HUF who is not liable to deduct TDS u/s 194C, 194H or 194J 5%
194NWhen cash withdrawals from one or more accounts with the bank, co-operative bank, or post office exceed Rs 1 crore.

If the taxpayer has not filed ITR for 3 preceding previous years then TDS @2% will be deducted after the cash withdrawals exceed Rs 20 lakhs.
194OPayment or credit of amount by the e-commerce operator to e-commerce participant1%
194PWhen specified bank deducts TDS in case of senior citizens >=75 yearsSlab rates
194QPayment for purchase of goods of the aggregate value exceeding Rs. 50 lakhs0.1%
194RAny benefit or perquisite provided to a resident arising from business or the exercise of a profession and where the aggregate value of such benefit/ prerquisites exceeds Rs. 20,000/-10%
194SOn transfer of Virtual Digital Asset where the aggregate value of consideration during the financial year

• Exceeds Rs 10,000/- in case of any person other than a specified person.

• Exceeds Rs 50,000/- in case of a specified person.
CA Ankita Khetan
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