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TMI BlogRate of Tax Deduction at Source (TDS Chart) with Threshold Limit for the Financial Year 2023-24X X X X Extracts X X X X X X X X Extracts X X X X ..... n securities for money issued by or on behalf of any local authority/statutory corporation, listed debentures of a company(other than demat form), any other interest on securities [Inserted by FA, 2023 Interest payable to Business Trust by SPV] 193 Interest on other Securities 10% ₹ 10,000 in case of 8% Savings (Taxable) Bonds, 2003 ₹ 10,000 in case of 7.75% Savings (Taxable) Bonds, 2018 during the financial year 194 Dividends 10% ₹ 5,000 No TDS if payment made to Individual by any mode other than cash payment is upto ₹ 5,000. No TDS if dividend is to LIC, GIC or any other insurer provided shares are owned by them, or they have full beneficial interest in such shares No TDS if Dividend is paid/credited by SPV to Busi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vious year upon furnish a Declaration alongwith PAN number of the GTA 194D Insurance Commission 5% ₹ 15,000, if recipient is a resident (other than a company) 10% ₹ 15,000, if recipient is a domestic company 194DA Payment of Life Insurance Policy including bonus 5% ₹ 1,00,000 No TDS if maturity amount exempt U/s 10(10D) TDS to be deducted at the time of payment. 194E Payment to a non-resident foreign citizen sportsman / entertainer or non -resident sports association 20% 1) Income received by NR Sportsmen (who is not citizen of India) by way of: Participation in any game or sport in India. Advertisement Contribution of article in newspapers, magazines, journals relating to game or sports in India 2) Income received for per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other than agricultural land. (TDS exempted if covered under RFCTLARR Act w.e.f. 01.04.2017) 10% ₹ 2,50,000 194LB Interest payable to non-resident by an infrastructure debt fund [Rate+ SC+HEC] 5% - 194LBA Income from units of business trust - interest received or receivable from a special purpose vehicle; Resident Non-Resident -Or, dividend referred to in section 115-O(7) Resident Non-Resident 10% 5% 10% 10% - 194LBA Distribution of rental income by business trust/REIT to unit holders -Other than Company Resident Non-Resident - Company Resident Non-Resident 10% 30% 10% 40% - 194LBB Income in respect of units of investment fund -Other than Company Resident Non-Resident -Company Resident Non-Resident 10% 30% 10% 40% - 194LBC Income in r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng to section 194N of the Act, TDS has to be deducted if a sum or aggregate of sum withdrawn in cash by a person in a particular FY exceeds : -₹ 20 lakh (if no ITR has been filed for all the three previous AYs), or -₹ 1 crore (if ITRs have been filed for all or any one of three previous AYs). 194O Applicable for e-commerce operator for the sale of goods or provision of services facilitated by it through its digital or electronic facility or platform (Applicable from 01.10.2020) 1% of gross amount of such sales or services or both. If No PAN quoted by deductee than rate of TDS will be 5% 194P TDS in case of specified senior citizen staff pensioners Slab rate An Individual having age of 75 years or more. Such person has staff pens ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vidual or HUF - Does not have income from business or profession. If they earn income from business or profession, but the income does not exceed Rs 1 crore or Rs 50 lakh, respectively. -others ₹10,000 195 Income of Investment made by an NRI Long-term capital gain- Under Section - 115E/112(1)(c)(iii)/112A - Any Other Gains Short-term capital gain - 111A Royalty Fees for Technical Services Interest income payable by Govt./Indian concern (other than section 194LB or 194LC Any Other Income - Other than Company - Company 20% 10% 20% 15% 10% 10% 20% 30% 40% 196A Income in respect - of units of a Mutual Fund specified under clause (23D) of section 10; or - from the specified company referred to in the Explanation to clause (35) of section 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... than ₹ 10 Crore, 5% 2. Cess No Cess on TDS in case of payment is made to Resident or Domestic Company [Other than Salary] Health and Education Cess - @4% of Income Tax Further Notes: 1. Self Declaration - Tax (TDS) is not deductible under section 192A , 193 , 194 , 194A , 194D , 194DA , 194-I, or 194EE or 194K if the recipient makes a declaration in Form 15G / 15H under the provisions of section 197A . But, the person seeking to furnish Form 15G / 15H must have PAN number on or after 1.4.2010. 2. Certificate from AO - Under Section 197 - A person can apply to AO and seek a certificate in Form 13 for no deduction of TDS or deduction of TDS at lower rates under sections192 , 193 , 194 , 194A , 194C , 194D , 194G , 194H [, 194-I , 194J , ..... X X X X Extracts X X X X X X X X Extracts X X X X
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