TAX DEDUCTED AT SOURCE (TDS)

Sec 192 Average rate of tax Deducted at the time of payment Sec 194I 10% - Land, building, Limit :- Sec 194M 5% Limit :-
Salary Rent furniture or No TDS if aggregate for all assets in a FY ≤ Payment of No TDS if aggregate amount in FY ≤ 50 Lacs
fitting 240000 (in case of co ownership 240000 limit certain sums by Payer : Individual /HUF
Sec 192A 10% Deducted at the time of Payment 2% - P&M, applied for each owners separately) inv./HUF not covered u/s
Payment of (If no PAN = MMR) No TDS if: (limit) equipment (contract, Prof 194C/H/J
Accumulated • amount < 50000 in a year fees, comm./ Payee : Resident
balance to • Service ≥ 5 years Payer : any person brokerage)
employee (other than Indv./HUF Sec 194N If Limit is 1 Crore -2% Limits :-
Sec193 10% No TDS if interest: whose TO/GR is up to Withdrawing • Paying any sums > 1 Crore
Interest on Payer : any person • Payable on govt. securities 1cr/ 50 lacs) cash If limit is 20 Lacs • In case of no filers of ROI for preceding 3
securities Payee : Resident • Payable on DMAT securities Payee : Resident person • 20 Lac to 1 Crore - 2% FY the limit is sum > 20 Lacs
person • Payable to business trust by SPV Sec 194IA 1% of (higher of Limit :- • Above 1 Crore – 5% • Govt. securities
• Paid to LIC,GIC, or other insurers Purchase of consideration or SDV) No TDS if consideration or SDV < 500000
Sec194 10% Deducted at the time of Payment immovable (does not apply if 194LA applies) Payer : Banks, co-op not applicable if payment made to : Govt,
Dividend Payer : Indian Co. No TDS if: (limit) property other Payer : any person banks, post office banks, co-op banks, post office, or person
Payee : Resident • Aggregate dividend < Rs 5000 and paid in than rural Payee : Resident Consideration includes all charges incidental Payee : Any person notified by CG
shareholder other than cash mode agricultural land person to transfer such as – membership fee, Sec 194O 1% on Gross amount of No TDS if:-
• Paid to LIC,GIC, or other insurers maintenance fee, parking fees etc Payment by E- sale • ECP is individual/ HUF; and
Sec 194A 10% No TDS if Sec 194IB 5% Deducted at the time of credit or payment of commerce • Gross amount in FY < 5 Lacs; and
Renting of last month rent of PY or last month of operators (ECO) If no PAN furnished - 5% • ECP has furnished PAN/Aadhar to ECO
Interest other • Interest paid by Bank/cooperative
than Interest on Payer : any person Immovable Payer : individual or HUF tenancy, whichever is earlier to E- commerce
bank/post office ≤ 40000 p.a (senior citizen
securities (other than Indv./HUF properties (not covered u/s 194I) (But deduction not to exceed Rent for last participants Payer : ECO
– 50000 p.a)
Payee : Resident month) (ECP) Payee : ECP
whose TO/GR is up to • Interest paid by others ≤ 5000 p.a
1cr/ 50 lacs) • Paid by Firm to a partner Sec 194P Rates in Force Specified senior citizen means:-
If no PAN furnished TDS - Limit :- Income of • Resident Individual aged ≥ 75 years; and
Payee : Resident person • Paid by CG under income tax Act
20% Sec 206AA No TDS if rent ≤ 50000 p.m Specified Senior Payer : Specified Banks • Having pension income & no other income
• Paid to LIC, other insurers, UTI, or any
Sec 194IC 10% TDS only on the cash consideration (not on Citizen Payee : Specified senior (except interest income from same bank);
banks
Payment under kind) citizen and
Sec194B 30% Deducted at the time of Payment Joint Payer : any person
Winning from • No TDS if Aggr. Amount ≤ 10000 for FY • Furnished declaration to the specified
development Payee : Resident If payment to NR – Sec 195 applies bank
lottery or Payer : Any person • If winning in Kind , the winnings will be agreement person
crossword Payee : Any person released only after ensuring that TDS is (such person is not required to file ROI u/s
Sec 194J 2% - FPS, call centre, Limits :- 139)
puzzles paid to the govt. Fees for royalty on sale - Professional fees ≤ 30000 Sec 194Q 0.1% of excess of 50 Lacs Limit :-
Sec 194BB 30% No TDS if Aggregate Amount ≤ 10000 for FY professional and or distribution - Technical fees For each
Winning from Payer : Any person Payment for Aggregate amount in a year ≤ 50 Lacs
technical of films - Royalty category of purchase of If no PAN furnished - 5%
horse race Payee : Any person services 10% - Others - Non-compete fees payments
Sec 194C Individual/HUF – 1% Limits :- goods No TDS u/s 194Q if:-
Sitting fees to DIR – No Limit
Payment to Others – 2% • Single payment ≤ 30000 Payer : Resident buyer • TDS already deducted under other sec
Payer : any person whose T/O of preceding
contractors • Aggregate during FY ≤ 100000 (194O)
(other than Indv./HUF No tds if:-
Payer : any person (once exceeded 1 lac, TDS deducted on total
PY > 10 Crore • TCS already collected u/s 206C(1H)
whose TO/GR is up to • Payment by Indv./HUF for personal
(other than Indv. /HUF amount)
Payee : Resident Seller • In case 194Q & 206C(1H) both applies –
1cr/ 50 lacs) purpose
whose TO/GR is up to No TDS if :- apply sec 194Q,
Payee : Resident person
1cr/ 50 lacs) • Payment made by indv/HUF exclusively for • 194Q is applicable on advance amount
Sec 194K 10% Limit :-
Payee : Resident person personal purpose • In the year of incorporation 194Q does not
Income in • No TDS if aggregate amount in FY ≤ 5000
Sec 194D 5% Limit :- apply Bcoz PY turnover is NIL
respect of units Payer : any person No TDS if income is in the nature of capital
Insurance Payer : any person No TDS if aggregate amount ≤ 15000 Payee : Resident Sec194R 10% of value of benefit Limit:-
gain
commission Payee : Resident Benefits or (FMV) Aggregate amount in FY ≤ 20000
Sec 194LA 10% Deducted at the time of Payment
Sec 194DA 5% On (maturity amount Deducted at the time of Payment perquisites in • If gift is in kind, payer has to ensure that
Compensation
Maturity – premium) money or in kind Payer : any person TDS has been deducted & paid to govt.
on compulsory Payer : any person Limit :-
proceeds of Life No TDS if acquisition of Payee : Resident person No TDS if aggregate amount ≤ 250000
w.r.t business or (other than Indv./HUF • 194R NA on loan waiver /settlement by
insurance policy Payer : any person • maturity amount in FY < 100000 profession whose TO/GR is up to banks
immovable (does not apply if 194LA applies)
Payee : Resident • exempt under sec 10(10D) property No TDS on rural agricultural Land
1cr/ 50 lacs) • 194R NA on sale discount, cash discount or
Payee : Resident person rebates between seller and buyer
Sec 194E 20% (SC + CESS) • No limit Sec 194 LB 5% (SC + CESS) Refer Sec115A – NR taxation
Payment to NR • Sportsmen/ entertainer - NR + non citizen Interest on • 194R NA on Bonus and right issues
sportsmen, • Umpire and referee not covered here infrastructure Payer : IDF Sec 194S 1% of consideration Limits:-
sports assoc., • Refer Sec 115BBA Debt fund Payee : NR/FC Transfer of • Amount ≤ 10000 for
entertainer Sec 194LC 5% (SC + CESS) Refer Sec115A – NR taxation virtual digital Payer : Buyer ✓ Individual/HUF whose T/O ≤ 1 crore or
Sec 194G 5% Limit :- Interest on assets Payee : Seller GR ≤ 50 Lacs
Commission on Payer : Any person No TDS if amount ≤ 15000 Foreign currency Payer : Indian co/ BT (Sec 206AA not applicable) • Amount ≤ 50000 for
sale of lottery Payee : Any person Borrowings Payee : NR/FC ✓ Assessee other than individual /HUF
tickets made by Indian ✓ Individual/HUF whose T/O > 1 crore or
Sec 194H 5% Limit :- co./ bus. trust GR > 50 Lacs
Commission or Payer : any person No TDS if aggregate amount ≤ 15000 Sec 194LD 5% (SC + CESS) Interest on:-
brokerage (other than Indv./HUF Interest to FII or • Rupee denominated bonds
whose TO/GR is up to No TDS If: QFI Payer : Any person • Govt. securities
1cr/ 50 lacs) • Commission or brokerage on professional Payee : FII/QFI • Municipal Debt securities
Payee : Resident person services Refer Sec115A – NR taxation

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