TDS Rate Applicable for Ass. Year 2022-23 or FY 2021-22

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TDS Rate applicable for the Assessment Year 2022-23 or for the financial year 2021-22

In the case of a person other than a companywhere the person is resident in India

SectionNature of PaymentRates of TDS
192Payment of salarySlab Rate
192APayment of accumulated balance of provident fund which is taxable in the hands of an employee.10
193 Interest on securities10
194Income by way of dividend10
194AIncome by way of interest other than “Interest on securities”10
194BIncome by way of winnings from lotteries, crossword puzzles, card games and other games of any sort30
194BBIncome by way of winnings from horse races30
194CPayment to contractor/sub-contractor
i) HUF/ Individuals
ii) Others

1
2
194DInsurance commission5
194DAPayment in respect of life insurance policy
w.e.f. 1/9/2019, the tax shall be deducted on the amount of income comprised in insurance pay-out
5
194EEPayment in respect of deposit under National Savings scheme10
194FPayment on account of repurchase of unit by Mutual Fund or Unit Trust of India20
194GCommission, etc., on sale of lottery tickets5
194HCommission or brokerage5
194-IRent
a) Plant & Machinery
b) Land or building or furniture or fitting
2
10
194-IAPayment on transfer of certain immovable property other than agricultural land1
194-IBPayment of rent by individual or HUF not liable to tax audit5
194-ICPayment of monetary consideration under Joint Development Agreements10
194JFees for professional or technical services:
i)  sum paid or payable towards fees for technical services
ii)  sum paid or payable towards royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films;
iii)  Any other sum
Note: With effect from June 1, 2017 the rate of TDS would be 2% in case of payee engaged in business of operation of call center.

2
2
10

194KIncome in respect of units payable to resident person10
194LAPayment of compensation on acquisition of certain immovable property10
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
194LBBInvestment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)]10
194LBCIncome in respect of investment made in a securitisation trust (specified in Explanation of section115TCA)25 in case of Individual or HUF
30 in case of other person
194MPayment of commission (not being insurance commission), brokerage, contractual fee, professional fee to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J.

Tax shall be deducted under Section 194M with effect from 1/09/2019 when aggregate of sum credited or paid during a financial year exceeds Rs. 50 lakh.
5
194NCash withdrawal during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office:
i) in excess of Rs. 1 crore
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. The deduction of tax under this situation shall be at the rate of:
a) 2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year; or
b) 5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year.
2
2/5




194PDeduction of tax by specified bank in case of senior citizen having age of 75 or moreTax on total income as per rate in force
194QPayment to resident for purchase of goods of the aggregate value exceeding Rs. 50 lakhs
Note: TDS is deductible on sum exceeding Rs. 50 lakhs
0.1
Any Other Income10

Where the person is not resident in India*

SectionNature of PaymentRates of TDS
192Payment of SalaryNormal Slab Rate
192APayment of accumulated balance of provident fund which is taxable in the hands of an employee.10
194BIncome by way of winnings from lotteries, crossword puzzles, card games and other games of any sort30
194BBIncome by way of winnings from horse races30
194E Payment to non-resident sportsmen/sports association20
194EEPayment in respect of deposits under National Savings Scheme10
194FPayment on account of repurchase of unit by Mutual Fund or Unit Trust of India20
194GCommission, etc., on sale of lottery tickets5
194LBPayment of interest on infrastructure debt fund5
194LBA(2)Payment of the nature referred to in Section 10(23FC)(a)5
194LBA(2)Payment of the nature referred to in Section 10(23FC)(b)30
194LBA(3)Payment of the nature referred to in section 10(23FCA) by business trust to unit holders30
194LBBInvestment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)].30
194LBCIncome in respect of investment made in a securitisation trust (specified in Explanation of section115TCA)30
194LC Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond)5 or 4*
* In case where interest is payable in respect of Long-term Bond or Rupee Denominated Bond listed on recognised stock exchange located in IFSC
194LDPayment of interest on rupee-denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor5
195Payment of any other sum to a Non-resident
a) Income in respect of investment made by a Non-resident Indian Citizen
b) Income by way of long-term capital gains referred to in Section 115E in case of a Non-resident Indian Citizen
c) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-Section (1) of Section 112
d) Income by way of long-term capital gains as referred to in Section 112A
e) Income by way of short-term capital gains referred to in Section 111A
f) Any other income by way of long-term capital gains [not being long-term capital gains referred to in clauses 10(33), 10(36) and 112A
g) Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC)
h) Income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of Section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of Section 115A of the Income-tax Act, to a person resident in India
i) Income by way of royalty [not being royalty of the nature referred to point h) above] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy
j) Income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy
k) Any other income


20
10
10
10
15
20
20
10
10
10
30
196BIncome from units (including long-term capital gain on transfer of such units) to an offshore fund10
196CIncome from foreign currency bonds or GDR of an Indian company (including long-term capital gain on transfer of such bonds or GDR)10
196DIncome of foreign Institutional Investors from securities (not being dividend or capital gain arising from such securities)20

In the case of a company

Where the company is a domestic company-

SectionNature of PaymentRates of TDS
193Interest on securities
a) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act;
b) any debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder;
c) any security of the Central or State Government;
[i.e. 8% Saving (Taxable) Bonds, 2003 and 7.75% Saving (Taxable) Bonds, 2018]
d) interest on any other security
10
10
10
10
194Dividend10
194AIncome by way of interest other than “Interest on securities”10
194BIncome by way of winnings from lotteries, crossword puzzles, card games and other games of any sort30
194BBIncome by way of winnings from horse races30
194CPayment to contractor/sub-contractor
a) HUF/Individuals
b) Others

1
2
194DInsurance commission10
194DAPayment in respect of life insurance policy
w.e.f. 1/9/2019, the tax shall be deducted on the amount of income comprised in insurance pay-out
5
194EEPayment in respect of deposit under National Savings scheme10
194FPayment on account of repurchase of unit by Mutual Fund or Unit Trust of India20
194GCommission, etc., on sale of lottery tickets5
194HCommission or brokerage5
194-IRent
a) Plant & Machinery
b) Land or building or furniture or fitting

2
10
194-IAPayment on transfer of certain immovable property other than agricultural land1
194-ICPayment of monetary consideration under Joint Development Agreements10
194JFees for professional or technical services:


sum paid or payable towards fees for technical services
sum paid or payable towards royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films;
  Any other sum
Note: With effect from June 1, 2017 the rate of TDS would be 2% in case of payee engaged in business of operation of call center.
2
2

10
194KIncome in respect of units payable to resident person10
194LAPayment of compensation on acquisition of certain immovable property10
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
194LBBInvestment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)] .10
194LBCIncome in respect of investment made in a securitisation trust (specified in Explanation of section115TCA)10
194MPayment of commission (not being insurance commission), brokerage, contractual fee, professional fee to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J.

Tax shall be deducted under Section 194M with effect from 1/09/2019 when aggregate of sum credited or paid during a financial year exceeds Rs. 50 lakh.

5
194NCash withdrawal during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office:







in excess of Rs. 1 crore
 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. The deduction of tax under this situation shall be at the rate of:
a)   2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year; or

b)   5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year.
2
2/5
194-OPayment or credit of amount by the e-commerce operator to e-commerce participant1
194PDeduction of tax by specified bank in case of senior citizen having age of 75 or moreTax on total income as per rate in force
194QPayment to resident for purchase of goods of the aggregate value exceeding Rs. 50 lakhs
Note: TDS is deductible on sum exceeding Rs. 50 lakhs
0.1
Any Other Income10

 where the company is not a domestic company*

SectionNature of PaymentRates of TDS
194BIncome by way of winnings from lotteries, crossword puzzles, card games and other games of any sort30
194BBIncome by way of winnings from horse races30
194EPayment to non-resident sports association20
194G Commission, etc., on sale of lottery tickets5
194LBPayment of interest on infrastructure debt fund5
194LBA(2)Payment of the nature referred to in Section 10(23FC)(a)5
194LBA(2)Payment of the nature referred to in Section 10(23FC)(b)10
194LBA(3)Business trust shall deduct tax while distributing any income received from renting or leasing or letting out any real estate asset owned directly by it to its unit holders40
194LBB Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)].40
194LBCIncome in respect of investment made in a securitisation trust (specified in Explanation of section115TCA)40
194LCPayment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond)5 or 4*

* In case where interest is payable in respect of Long-term Bond or Rupee Denominated Bond listed on recognised stock exchange located in IFSC

194LDPayment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor5
195Payment of any other sum
a) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-section (1) of Section 11210
b) Income by way of long-term capital gains as referred to in Section 112A
10
c) Income by way of short-term capital gains referred to in Section 111A15
d) Any other income by way of long-term capital gains [not being long-term capital gains referred to in clauses 10(33) , 10(36) and 112A20
e) Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC)20
f) Income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1976 where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of Section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of Section 115A of the Income-tax Act, to a person resident in India10
g) Income by way of royalty [not being royalty of the nature referred to in point f) above] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy—
A. where the agreement is made after the 31st day of March, 1961 but before the 1st day of April, 1976

B. where the agreement is made after the 31st day of March, 1976


50


10
h) Income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy—
A. where the agreement is made after the 29th day of February, 1964 but before the 1st day of April, 1976
B. where the agreement is made after the 31st day of March, 1976




50
10
i) Any other income
40
196BIncome from units (including long-term capital gain on transfer of such units) to an offshore fund10
196CIncome from foreign currency bonds or GDR of an Indian company (including long-term capital gain on transfer of such bonds or GDR)10
196DIncome of foreign Institutional Investors from securities (not being dividend or capital gain arising from such securities)

Note: Tax shall be deducted at the rate provided under DTAA if same is lower than the existing TDS rate of 20%.
20

* The rate of TDS shall be increased by applicable surcharge and Health & Education cess.

[As amended by Finance Act, 2021]

Source: Income Tax India

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