TDS Rate Chart for FY 2021-22 / AY 2022-23 – Updated

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Income Tax TDS Rate Chart for for Financial Year (FY) 2021-22 / Assessment Year
(AY) 2022-23

Particulars TDS Rates (in

%)

1. In the case of a person other than a company

1.1 where the person is resident in India-

Section 192: Payment of salary Normal Slab

Rate

Section 192A: Payment of accumulated balance of provident fund 10

which is taxable in the hands of an employee.

Section 193: Interest on securities

a) any debentures or securities for money issued by or on behalf of 10

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 10

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; 10

[i.e. 8% Savings (Taxable) Bonds, 2003 and 7.75% Saving (Taxable)
Bonds, 2018]

d) interest on any other security 10

Section 194: Income by way of dividend 10

Section 194A: Income by way of interest other than “Interest on 10

securities”

Section 194B: Income by way of winnings from lotteries, crossword 30

puzzles, card games and other games of any sort

Section 194BB: Income by way of winnings from horse races 30

Section 194C: Payment to contractor/sub-contractor

a) HUF/Individuals 1

b) Others 2

Section 194D: Insurance commission 5

Section 194DA: Payment in respect of life insurance policy 5

w.e.f. 1/9/2019, the tax shall be deducted on the amount of income
comprised in insurance pay-out

Section 194EE: Payment in respect of deposit under National 10

Savings scheme

Section 194F: Payment on account of repurchase of unit by Mutual 20

Fund or Unit Trust of India

Section 194G: Commission, etc., on sale of lottery tickets 5

Section 194H: Commission or brokerage 5

Section 194-I: Rent

a) Plant & Machinery 2

b) Land or building or furniture or fitting 10

Section 194-IA: Payment on transfer of certain immovable property 1

other than agricultural land

Section 194-IB: Payment of rent by individual or HUF not liable to 5

tax audit

Section 194-IC: Payment of monetary consideration under Joint 10

Development Agreements
Section 194J: Fees for professional or technical services: 2
i) sum paid or payable towards fees for technical services
2
ii) sum paid or payable towards royalty in the nature of consideration
for sale, distribution or exhibition of cinematographic films; 10

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.

Section 194K: Income in respect of units payable to resident person 10

Section 194LA: Payment of compensation on acquisition of certain 10

immovable property

Section 194LBA(1): Business trust shall deduct tax while 10

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.

Section 194LBB: Investment fund paying an income to a unit holder 10

[other than income which is exempt under Section 10(23FBB)]

Section 194LBC: Income in respect of investment made in a 25 in case of

securitisation trust (specified in Explanation of section115TCA) Individual or
HUF
30 in case of
other person

Section 194M: Payment of commission (not being insurance 5

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.
Section 194N: Cash withdrawal during the previous year from one or 2
more account maintained by a person with a banking company, co-
operative society engaged in business of banking or a post office: 2/5
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.

Section 194-O: Payment or credit of amount by the e-commerce 1

operator to e-commerce participant

Section 194P: Deduction of tax by specified bank in case of senior Tax on total
citizen having age of 75 or more income as per
rate in force

Section 194Q: Payment to resident for purchase of goods of the 0.1

aggregate value exceeding Rs. 50 lakhs
Note: TDS is deductible on sum exceeding Rs. 50 lakhs

Any Other Income 10

1.2 where the person is not resident in India*-

Section 192: Payment of Salary Normal Slab

Rate

Section 192A: Payment of accumulated balance of provident fund 10

which is taxable in the hands of an employee.

Section 194B: Income by way of winnings from lotteries, crossword 30

puzzles, card games and other games of any sort

Section 194BB: Income by way of winnings from horse races 30

Section 194E: Payment to non-resident sportsmen/sports 20
association

Section 194EE: Payment in respect of deposits under National 10

Savings Scheme

Section 194F:Payment on account of repurchase of unit by Mutual 20

Fund or Unit Trust of India

Section 194G: Commission, etc., on sale of lottery tickets 5

Section 194LB: Payment of interest on infrastructure debt fund 5

Sec. 194LBA(2): Payment of the nature referred to in Section 5

10(23FC)(a)

Section 194LBA(2): Payment of the nature referred to in Section 10

10(23FC)(b)

Section 194LBA(3): Payment of the nature referred to in section 30

10(23FCA) by business trust to unit holders

Section 194LBB: Investment fund paying an income to a unit holder 30

[other than income which is exempt under Section 10(23FBB)].

Section 194LBC: Income in respect of investment made in a 30

securitisation trust (specified in Explanation of section115TCA)

Section 194LC: Payment of interest by an Indian Company or a 5 or 4*

business trust in respect of money borrowed in foreign currency
under a loan agreement or by way of issue of long-term bonds * In case
(including long-term infrastructure bond) where interest
is payable in
respect of
Long-term
Bond or
Rupee
Denominated
Bond listed on
recognised
stock
exchange
located in
IFSC

Section 194LD: Payment of interest on rupee denominated bond of 5

an Indian Company or Government securities to a Foreign
Institutional Investor or a Qualified Foreign Investor
Section 195: Payment of any other sum to a Non-resident

a) Income in respect of investment made by a Non-resident Indian 20

Citizen

b) Income by way of long-term capital gains referred to in Section 10

115E in case of a Non-resident Indian Citizen

c) Income by way of long-term capital gains referred to in sub-clause 10

(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 10

112A

e) Income by way of short-term capital gains referred to in Section 15

111A

f) Any other income by way of long-term capital gains [not being long- 20
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 20

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 10

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 10

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 10
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 30

Section 196B: Income from units (including long-term capital gain on 10

transfer of such units) to an offshore fund

Section 196C: Income from foreign currency bonds or GDR of an 10

Indian company (including long-term capital gain on transfer of such
bonds or GDR)

Section 196D: Income of foreign Institutional Investors from 20

securities (not being dividend or capital gain arising from such
securities)

2. In the case of a company-

2.1 where the company is a domestic company-

Section 193: Interest on securities

a) any debentures or securities for money issued by or on behalf of 10

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 10

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; 10

[i.e. 8% Saving (Taxable) Bonds, 2003 and 7.75% Saving (Taxable)
Bonds, 2018]

d) interest on any other security 10

Section 194: Dividend 10

Section 194A: Income by way of interest other than “Interest on 10

securities”
Section 194B: Income by way of winnings from lotteries, crossword 30
puzzles, card games and other games of any sort

Section 194BB: Income by way of winnings from horse races 30

Section 194C: Payment to contractor/sub-contractor

a) HUF/Individuals 1

b) Others 2

Section 194D: Insurance commission 10

Section 194DA: Payment in respect of life insurance policy 5

w.e.f. 1/9/2019, the tax shall be deducted on the amount of income
comprised in insurance pay-out

Section 194EE: Payment in respect of deposit under National 10

Savings scheme

Section 194F: Payment on account of repurchase of unit by Mutual 20

Fund or Unit Trust of India

Section 194G: Commission, etc., on sale of lottery tickets 5

Section 194H: Commission or brokerage 5

Section 194-I: Rent

a) Plant & Machinery 2

b) Land or building or furniture or fitting 10

Section 194-IA:Payment on transfer of certain immovable property 1

other than agricultural land

Section 194-IC:Payment of monetary consideration under Joint 10

Development Agreements
Section 194J: Fees for professional or technical services: 2
iv) sum paid or payable towards fees for technical services
2
v) sum paid or payable towards royalty in the nature of consideration
for sale, distribution or exhibition of cinematographic films; 10

vi) 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.

Section 194K : Income in respect of units payable to resident person 10

Section 194LA: Payment of compensation on acquisition of certain 10

immovable property

Section 194LBA(1): Business trust shall deduct tax while 10

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.

Section 194LBB: Investment fund paying an income to a unit holder 10

[other than income which is exempt under Section 10(23FBB)] .

Section 194LBC: Income in respect of investment made in a 10

securitisation trust (specified in Explanation of section115TCA)

Section 194M: Payment of commission (not being insurance 5%

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.
Section 194N: Cash withdrawal during the previous year from one or 2
more account maintained by a person with a banking company, co-
operative society engaged in business of banking or a post office: 2/5
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.

Section 194-O: Payment or credit of amount by the e-commerce 1

operator to e-commerce participant

Section 194P: Deduction of tax by specified bank in case of senior Tax on total
citizen having age of 75 or more income as per
rate in force

Section 194Q: Payment to resident for purchase of goods of the 0.1

aggregate value exceeding Rs. 50 lakhs
Note: TDS is deductible on sum exceeding Rs. 50 lakhs

Any Other Income 10

2.2 where the company is not a domestic company*-

Section 194B: Income by way of winnings from lotteries, crossword 30

puzzles, card games and other games of any sort

Section 194BB: Income by way of winnings from horse races 30

Section 194E: Payment to non-resident sports association 20

Section 194G: Commission, etc., on sale of lottery tickets 5

Section 194LB: Payment of interest on infrastructure debt fund 5

Section 194LBA(2): – Payment of the nature referred to in Section 5
10(23FC)(a)

Section 194LBA(2): Payment of the nature referred to in Section 10

10(23FC)(b)

Section 194LBA(3): Business trust shall deduct tax while distributing 40

any income received from renting or leasing or letting out any real
estate asset owned directly by it to its unit holders.

Section 194LBB: Investment fund paying an income to a unit holder 40

[other than income which is exempt under Section 10(23FBB)].

Section 194LBC: Income in respect of investment made in a 40

securitisation trust (specified in Explanation of section115TCA)

Section 194LC: Payment of interest by an Indian Company or a 5 or 4*

business trust in respect of money borrowed in foreign currency
under a loan agreement or by way of issue of long-term bonds * In case
(including long-term infrastructure bond) where interest
is payable in
respect of
Long-term
Bond or
Rupee
Denominated
Bond listed on
recognised
stock
exchange
located in
IFSC

Section 194LD: Payment of interest on rupee denominated bond of 5

an Indian Company or Government securities to a Foreign
Institutional Investor or a Qualified Foreign Investor

Section 195: Payment of any other sum

a) Income by way of long-term capital gains referred to in sub-clause 10

(iii) of clause (c) of sub-section (1) of Section 112

b) Income by way of long-term capital gains as referred to in Section 10

112A

c) Income by way of short-term capital gains referred to in Section 15

111A
d) Any other income by way of long-term capital gains [not being 20
long-term capital gains referred to in
clauses 10(33) , 10(36) and 112A

e) Income by way of interest payable by Government or an Indian 20

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)

f) Income by way of royalty payable by Government or an Indian 10

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 India

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 50
but before the 1st day of April, 1976

B. where the agreement is made after the 31st day of March, 1976 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 50
but before the 1st day of April, 1976

B. where the agreement is made after the 31st day of March, 1976 10
 i) Any other income 40

Section 196B: Income from units (including long-term capital gain on 10

transfer of such units) to an offshore fund

Section 196C: Income from foreign currency bonds or GDR of an 10

Indian company (including long-term capital gain on transfer of such
bonds or GDR)

Section 196D: Income of foreign Institutional Investors from 20

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%.

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