TDS Rates For FY 2023-24 PDF Download

TDS Rates For FY 2023-24 PDF Download Is Given at the bottom of the article. you can download the pdf on your mobile or laptop. The full form of TDS is Tax Deduction Of Sourse.

The tax deduction form 2023 24 is announced on the budget day by the government of India, and now the TDS Rates For FY 2023-24 PDF Download is available. The TDS rates may vary from an income source, such as salary, self-employed and business class.

TDS Rates For FY 2023-24 PDF Download Overview

PDF NameTDS Rates For FY 2023-24 PDF Download
No. of Pages9
PDF SizeOpen Source
PDF LanguageEnglish
PDF CategoryGovernment
Pdf Credit16 May
Pdf Download16 may

what is TDS?

In India, TDS stands for Tax Deducted at Source. It is a mechanism through which the government collects taxes at the time of making certain payments such as salaries, rent, professional fees, interest, etc. The person or entity(Business class ) making the payment deducts a certain percentage of tax from the payment amount and deposits it with the government on behalf of the recipient.

TDS serves as a method to ensure regular collection of taxes and to minimize tax evasion. It helps in the early collection of taxes and distributes the responsibility of tax payment between the deductor and the deductee.

The rates of TDS and the applicable sections of the Income Tax Act vary depending on the nature of payment and the status of the recipient. The deductor is required to issue a TDS certificate to the deductee, which shows the amount of tax deducted. The deductee can then claim credit for the TDS amount while filing their income tax return.

It is important for individuals and entities to comply with TDS provisions to avoid penalties and legal consequences. It is advisable to consult a tax professional or refer to the official income tax website for the latest and specific information on TDS in India, as the rates and regulations are subject to change. TDS Rates For FY 2023-24 PDF Download is given below where you must be download into your mobile.

TDS Rates For FY 2023-24 PDF Download – Highlights

Nature of PaymentBasic Cut off(Rs)Individual /Company and others New Rate %)If No Pan or Invalid PAN (Rate %)
192 – SalariesSlab RateSlab Rates30%
192A- Premature withdrawal from Employee Provident Fund (Note 1)50,000Individual: 10% Company: NA20%
193 – Interest on securities (Note 2 & 3)2,500Individual: 10% Company: 10%20%
194 – Dividend other than the dividend as referred to in Section 115-O5,000Individual: 10% Company: 10%20%
194A – Interest other than interest on securities – Banks Time deposits, Recurring deposits, and Deposit in Co-op Banks (Note 3)Amount of net winnings comprised in withdrawalIndividual: 10%20%
194B – Winning from Lotteries10,000Individual: 30% Company: 30%30%
194BA – Winnings from Online Gaming (Note 16)194EE – Payments out of deposits under the National Savings SchemeIndividual: 30% Company: 30%30%
194BB – Winnings from Horse Race10,000Individual: 30% Company: 30%30%
194C- Payment to Contractor – Single Transaction (Note 4)30,000Individual: 1% Company: 2%20%
194C-Payment to Contractor – Aggregate During the Financial year (Note 4)1,00,000Individual: 1% Company: 2%20%
194C- Contract – Transporter not covered under 44AE (Note 4)30,000 / 75,000Individual: 1% Company: 2%20%
194C- Contract – Transporter covered under 44AE & submit declaration on prescribed form with PAN20%
194D – Insurance Commission15,000Individual: 5% Company: 5%20%
194DA Payment in respect of life insurance policy (Note 5)1,00,000Individual: 5% Company: 5%20%
194E – Payment to Non-Resident Sportsmen or Sports AssociationIndividual: 20% Company: 20%20%
194I – Rent – Plant / Machinery/equipment2,500Individual: 10% Company: 10%20%
194F – Repurchase Units by MFsIndividual: 20% Company: 20%20%
194G – Commission – Lottery15,000Individual: 5% Company: 5%20%
194H – Commission / Brokerage15,000Individual: 5% Company: 5%20%
194I – Rent – Land and Building – furniture – fittings2,40,000Individual: 10% Company: 10%20%
194IA -Transfer of certain immovable property other than agricultural land2,40,000Individual: 2% Company: 2%20%
194 LBA (1)- 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. (Note 9)50,00,000Individual: 1% Company: 1%20%
194IB – Rent – Land or building or both50,000 per monthIndividual: 5%20%
194IC – Payment of Monetary consideration under Joint development agreementIndividual: 10% Company: 10%20%
194J – Professional Fees for technical services (w.e.f. from 1.4.2020) (Note 6)30,000Individual: 2% Company: 2%20%
194J – Professional Fees in all other cases30,000Individual: 10% Company: 10%20%
194K- Payment of any income in respect of Units of Mutual fund as per section 10(23D) or Units of administrator or from a specified company (Note 7)Individual: 10% Company: 10%20%
194LA – TDS on compensation for compulsory acquisition of immovable Property (Note 8)2,50,000Individual: 10% Company: 10%20%
194K- Payment of any income in respect of Units of Mutual fund as per section 10(23D) or Units of an administrator or from a specified company (Note 7)Individual: 10% Company: 10%20%
194LB – Income by way of interest from infrastructure debt fund (non-resident)Individual: 5% Company: 5%20%
194LBB – Income in respect of investment in Securitisation trust.Individual: 10% Company: 30%30%
194M – Payment of Commission, brokerage, contractual fee, or 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.Individual: 25% Company: 30%30%
194 LC – Income by way of interest by an Indian specified company to a non-resident / foreign company on foreign currency approved loan / long-term infrastructure bonds from outside India (Note 10)Individual: 5% Company: 5%20%
194LD – Interest on certain bonds and govt. Securities (Note 11)Individual: 5% Company: 5%20%
194N – Cash withdrawal in excess of Rs. 20 Lakh during the previous year from one or more accounts maintained by a person with a banking company, co-operative society engaged in business of banking or a post office.50,00,000Individual: 5% Company: 5%20%
194N – Cash withdrawal in excess of Rs. 3 crore during the previous year from one or more account maintained by a Co operative society with a banking company, cooperative society engaged in business of banking or a post office. (Note 15)20,00,000Individual: 2% Company: 2%20%
194N – Cash withdrawal in excess of Rs. 1 crore during the previous year from one or more accounts maintained by a person with a banking company, co-operative society engaged in the business of banking or a post office. (Note 12)100,00,000Individual: 2% Company: 2%20%
Rates applicable to a particular slab of income including applicable Surcharge and Health & Education Cess300,00,000Co-operative Society : 5%20%
194O – Applicable for E-Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform.Individual: 1% Company: 1%20%
194P- TDS by specified bank to specified senior citizen195- Payment of any sum to Non-resident
194Q- Purchase of goods50,00,0000.1%
194R- Deduction of tax on benefit of perquisite in respect of business or professionResident Indiviual: 20,00010%
194S- Transfer of a virtual digital assetResident Individual & HUF: 50,000Others: 10,0001%
195- Payment of any sum to Non residentHigher of Rate in force or Double Taxation Avoidance Act rate
196B – Income from unitsIndividual: 10% Company: 10%20%
196C-Income from foreign currency bonds or GDR (including long-term capital gains on transfer of such bonds) (not being dividend)Individual: 10% Company: 10%20%
196D – Income of FIIs from securitiesIndividual: 20% Company: 20%20%

New Income Tax Slab Overview

ParticularsNew Tax Regime for AY 2021-22 to AY 2023-24New Tax Regime for AY 2024-25 and onwards
No. of Slabs RatesSixFive
Basic Tax ExemptionUpto 2,50,000Upto 3,00,000
ApplicabilityIndividuals, HUFIndividuals, HUF, AOP – other than co-operative society, BOI, AJP
Default RegimeOld RegimeNew Regime
Standard Deduction of 50,000Not availableAvailable
Deduction upto 15,000 u/s.57 (iia) for Family PensionNot availableAvailable
Rebate u/s.87AUpto 5,00,000Upto 7,00,000
Maximum Rebate u/s.87A12,50025,000
Highest Surcharge Rate37 percent25 percent

TDS Rates For FY 2023-24 PDF Download Link

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FAQ About TDS Rates For FY 2023-24 PDF Download

What is the new TDS rate for FY 2023 24?

if any individual person is earn more than 2,50,000 rupee in a year he/she must be paid 10% TDS rates. this TDS is paid on or before May 2024.

What is the current TDS tax rate?

The current tax rate you can find in this article. where a brief article and pdf is available where you can download it or read the full article,

How Can TDS Rates For FY 2023-24 PDF Download?

You can visit www.pdfsewa.in and find the TDS Rates For FY 2023-24 PDF Download . it is free and you can download it on your mobile or laptop. also, you may take a printout and take it for your future reference.

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