Section	Nature of Payment	Threshold Limit of Payment			Rates
			Basic Exemption Limit
			For Old regime	For New regime
192	Income from Salary	Super Senior Citizen (80 Years or more)	Rs. 5,00,000	Rs. 3,00,000	Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs)                                                        TDS as per Tax Regime selected by employee. If not selected, TDS deduction as per New Regime.
		Senior Citizen (60 Years or more)	Rs. 3,00,000	Rs. 3,00,000
		Others	Rs. 2,50,000	Rs. 3,00,000
192A	Premature Withdrawal from EPF	Rs. 50,000			PAN available : 10% PAN Not available : 20%
193	Interest on Securities (including Listed Debentures)	Rs. 5,000 (Rs. 10,000 on 8% Savings (Taxable) Bonds, 2003)			10%
194	Dividend	Rs. 5,000			10%
194A	*Interest (Other than on Securities) by a Banking Company/ Post Office	Senior citizen : Rs. 50,000 p.a.                    Others : Rs. 40,000 p.a.			10%
194A	Interest (Other than on Securities) by others	Rs. 5,000 p.a.			10%
194B	Winning from Lotteries & Cross Word Puzzles, Card games and other games on any sort (Other than winning from online Games)	Rs. 10,000 p.a.			30%
194BA	Winning From Online Games	No Limit			30%
194BB	Winnings from horse races	Rs. 10,000 p.a.			30%
194C	*Payment to contractor/sub-contractor	Rs.30,000 Single Transaction (or)			Individual/HUF : 1% Others : 2%
		Rs. 1,00,000 Aggregate of transactions
194D	Insurance Commision	Rs. 15,000			Other than Company :  5%  (Reduced rate of 2% shall be wef 1.4.25 onwards)
					Domestic Company:10%
194DA	Payment under life insurance policy (The tax shall be deducted on the amount of income comprised in insurance pay-out)	Rs.1,00,000 p.a.			Upto 30.9.24 : 5%  Wef 1.10.24 : 2%
194EE	Payment under National Savings Scheme	Rs.2,500			10%
194F	Payment on account of repurchase of units by Mutual Fund or Unit Trust of India	No Limit			Upto 30.9.24 : 20%  Wef 1.10.24 : NA
194G	Commission on Sale of Lottery Tickets	Rs. 15,000			Upto 30.9.24 : 5%  Wef 1.10.24 : 2%
194H	*Commission/Brokerage	Rs. 15,000 p.a.			Upto 30.9.24 : 5%  Wef 1.10.24 : 2%
194-I(a)	*Rent of Plant / Machinery	Rs. 2,40,000 p.a.			2%
194-I(b)	*Rent of Land or building or furniture or fitting	Rs. 2,40,000 p.a.			10%
194-IA	Payment or transfer of immovable property (other than rural agriculture land)	Rs. 50,00,000 & above			1% (on the higher of amount of consideration or the stamp duty value)
194-IB	Rent payable by an individual or HUF not liable to tax audit	Rs.50,000 per month			Upto 30.9.24 : 5%  Wef 1.10.24 : 2%
194-IC	Payment of monetary consideration under Joint Development Agreements to Resident individual/HUF	No Limit			10%
194J	*Fees for Professional / Technical Services / Royalty / Remuneration to director	Rs. 30,000 p.a. (Rs. 0 in case of Directors)			2% (For Call Centre, Fees for Technical Services & Royalty in case of cinematograh films)
					10% (For Professional Services, Director remuneration and other royelty)
194K	Income in respect of units of Mutual funds or specified company	Rs. 5,000			10%
194LA	Compensation on  acquisition of immovable Property	Rs. 2,50,000			10%
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 resident unit holders.	No Limit			10%
194LBB	Payment in respect of units of Investment funds u/s 115UB  [other than income which is exempt under Section 10(23FBB)]	No Limit			10%
194LBC(1)	Income in respect of investment made in a securitisation trust	No Limit			Individual or HUF: 25% Other : 30%
194M	Payment to resident contractors and professionals or by way of commission / brokerage (other than those who covered u/s 194C or 194J) by individual/HUF not liable for tax audit.	Rs. 50 lacs			Upto 30.9.24 : 5%  Wef 1.10.24 : 2%
194N	Aggregate Cash withdrawal from Bank / Co-operative bank / Post office etc.  (* by persons who have not filed ITR for 3 previous years immediately preceding the previous year and the due date for filing ITR under section 139(1) has expired)	Rs. 20 lakhs			Cash withdrawal  between Rs. 20 lakhs to Rs. 1 crore : 2%
					Cash withdrawal above Rs. 1 crore : 5%
194N	Aggregate Cash withdrawal from Bank, Post office etc. in case of others.	Rs. 1 crore			2%
194-O	Payment by E-commerce operator to e-commerce participants	Individual /HUF : Rs. 5 Lakh Others : No limit.			Upto 30.9.24 : 1.%  Wef 1.10.24 : 0.10.%
194P	TDS deduction by bank in case of specified Senior Citizen above 75 Years drawing pension (NOTE-1)	Rs. 3,00,000			As per Rates in force
194Q	Payment for purchase of goods	50 Lakhs			0.1% (on the value above Rs. 50 lakhs)
194R	Benefits or perquisites arising from business or profession	Rs. 20, 000			10%
194S	Payment of Consideration for Transfer of Virtual Digital Assets of crypto currency	By Specified Persons(Not having income PGBP or less than 1Cr/50 lakh) : Rs. 50,000 By Others : Rs. 10,000			1%
194T	TDS on payment of salary, remuneration, interest, bonus or commission by partnership firm to partners for aggregate amounts more than Rs. 20,000 in the financial year	Rs. 20,000			FY 24-25 : Nil  FY 25-26 onwards : 10%
206AA	TDS rate in case of Non availability of PAN	-			Higher of-
					Rates in force
					20%
206AB	TDS on non-filers of ITR at higher rates	-			Higher of -
					– 5%
					– Twice the rate or rates in force

* Other than Individual or HUF (except those covered u/s 44AB)

NOTE-1

No ITR filing by senior citizen if all the following conditions are satisfied:

1. The senior citizen is resident in India.

2. He is of the age of 75 years or more during the previous year.

3. He has only pension income and may also have interest income from the same bank (specified bank) in which he is receiving his pension income;

4. He has furnished a declaration in Form 12BBA to the specified bank.

5. Specified bank would be required to compute income after giving effect to deductions allowable under Chapter VI-A and rebate under section 87A and deduct Income Tax on the rates in force.

6. As per Notification no. S.O. 3595(E) dated 2nd Sep, 2021, specified banks means a banking company which is a scheduled bank and has been appointed as agents of RBI u/s 45 of the RBI act. Most of the major public sector banks, Private sector banks &foreign banks are covered.

TCS Rates
Section	Goods/Services	Nature	Threshold Limit of Payment	Rates
206C (1)	Alcoholic Liquor for Human Consumption	Sale		1.00%
206C (1)	Indian made for foreign liquor	Sale		1.00%
206C (1)	Minerals,coal lignite, Iron ore by a trader	Sale		1.00%
206C (1F)	Motor vehicle	Sale	Sale value Exceeding Rs. 10 Lakhs per transaction	1% Note : For notifed items other than motor car, applicable wef 1.1.25.
206C (1C)	Parking lot, toll plaza, mining & quarrying	Lease or license		2.00%
206C (1)	Scrap	Sale		1%
206C (1)	Tendu Leaves	Sale		5%
206C (1)	Timber obtained under a forest lease or other mode	Sale		2.50%
206C (1)	Any other forest produce not being a Timber or tendu leaves	Sale		2.50%
206 (1H)	Goods other those specified separately in excess of Rs.50 Lakh in a year by seller	Sale	Whose turnover is more than Rs. 10 Crore	0.10%
206 (1G)	Overseas Tour Package	Sale	No Limit	Upto 7 Lacs : 5% Above 7 Lacs: 20%
206 (1G)	Remittance under LRS of RBIis a loan for education obtained from any financial institutiondefined in section 80E	Foreign Remittance	Rs. 7 lacs	0.50%
206 (1G)	Remittance under LRS of RBIforeducation in other cases or for medical treatment	Foreign Remittance	Rs. 7 lacs	5%
	Any other Remittance	Foreign Remittance	7 lacs	20%
206CC	TCS rate in case of Non availability of PAN	-		Higher of-
				Twice the rate
				5%
206CCA	TCS on non-filers of ITR at higher rates	-		Higher of -
				Twice the rate or rates in force
				5%

 

Notes-

Surcharges & Education Cess

Type of Payment	Surcharge	Rate	Health and Education Cess (4.00%)
Salary (Residents)	Upto 50 Lacs	Nil	Yes
	50 Lacs to  1 Crore	10%	Yes
	> 1 Crore but upto 2 Crore	15%	Yes
	> 2 crore but upto 5 crore	25%	Yes
	> 5 crore	37% (Old Regime) 25% (New Regime)	Yes
Other Payments to Residents	No	Nil	No

 

Interest for failure to deduct tax at source/delay in payment of TDS

Stage of deduction		Rate per month or part of the month
From date when deductible till actual deduction		1.00%
From date of deduction till payment		1.50%

TDS / TCS RATES FOR A.Y.2024-25