TAX DEDUCTED AT SOURCE (TDS) [CA Intermediate Jan 25]

Sec 192 Average rate of tax Deducted at the time of payment Sec 194H 5% Limit :- Sec 194M 5% Limit :-
Salary BEL – 300000/250000 Commission or No TDS if aggregate amount ≤ 15000 Payment of No TDS if aggregate amount in FY ≤ 50
Sec 192A 10% Deducted at the time of Payment brokerage Payer : any person certain sums Payer : Individual Lacs
Payment of (If no PAN = MMR) No TDS if: (limit) (other than Indv./HUF No TDS If: by inv./HUF /HUF not covered u/s
Accumulated • amount < 50000 in a year whose TO/GR is up to • Commission or brokerage on (contract, Prof 194C/H/J
balance to • Service ≥ 5 years 1cr/ 50 lacs) professional services fees, comm./ Payee : Resident
employee Payee : Resident brokerage)
Sec 193 10% No TDS if interest: person Sec 194N If Limit is 1 Crore -2% Limits :-
Interest on • Payable on govt. securities Sec 194I 10% - Land, building, Limit :- Withdrawing • Paying any sums > 1 Crore
securities Payer : any person • Payable on DMAT securities Rent furniture or No TDS if aggregate for all assets in a FY cash If limit is 20 Lacs • In case of no filers of ROI for preceding
Payee : Resident • Paid to LIC,GIC, or other insurers fitting ≤ 240000 (in case of co ownership • 20 Lac to 1 Crore - 3 FY the limit is sum > 20 Lacs
person 2% - P&M, 240000 limit applied for each owners (If payee is co- 2% • Govt. securities
Sec194 10% Deducted at the time of Payment equipment separately) operative • Above 1 Crore –
Dividend Payer : Indian Co. No TDS if: (limit) society limit 5% not applicable if payment made to : Govt,
Payee : Resident • Aggregate dividend ≤ Rs 5000 p.a and Payer : any person will be 3 Cr ) banks, co-op banks, post office, or person
shareholder paid in other than cash mode (other than Indv./HUF [FA -2023] Payer : Banks, co-op notified by CG
• Paid to LIC,GIC, or other insurers or whose TO/GR is up to banks, post office
Sec 194A 10% No TDS if 1cr/ 50 lacs) Payee : Any person
Interest other • Interest paid by Bank/cooperative Payee : Resident Sec 194O 1% on Gross amount No TDS if:-
than Interest Payer : any person bank/post office ≤ 40000 p.a (senior person Payment by E- of sale • ECP is individual/ HUF; and
on securities (other than Indv./HUF citizen – 50000 p.a) Sec 194IA 1% of (higher of Limit :- commerce • Gross amount in FY < 5 Lacs; and
whose TO/GR is up to • Interest paid by others ≤ 5000 p.a Purchase of consideration or SDV) No TDS if consideration or SDV< 5000000 operators If no PAN furnished - • ECP has furnished PAN/Aadhar to ECO
1cr/ 50 lacs) • Paid by Firm to a partner immovable (does not apply if 194LA applies) (ECO) to E- 5%
Payee : Resident • Paid by CG under income tax Act property other Payer : any person commerce
person • Paid to LIC, other insurers, UTI, or any than rural Payee : Resident Consideration includes all charges participants Payer : ECO
banks agricultural person incidental to transfer such as – (ECP) Payee : ECP
land membership fee, maintenance fee, Sec 194P Rates in Force Specified senior citizen means:-
Sec 194B 30% Deducted at the time of Payment
Winning from • No TDS if Aggr. Amount ≤ 10000 for FY
parking fees etc Income of • Resident Individual aged ≥ 75 years;
Sec 194IB 5% Deducted at the time of credit or Specified Payer : Specified and
lottery or Payer : Any person • If winning in Kind , the winnings will
crossword Payee : Any person be released only after ensuring that
Renting of payment of last month rent of PY or last Senior Citizen Banks • Having pension income & no other
puzzles Immovable Payer : individual or month of tenancy, whichever is earlier Payee : Specified income (except interest income from
TDS is paid to the govt.
properties HUF (not covered u/s (But deduction not to exceed Rent for senior citizen same bank); and
Sec 194BA 30% on net winnings Deducted at the time of:
194I) last month) • Furnished declaration to the specified
Winning from on his user account • Withdrawal from user account (net
Payee : Resident bank
Online Games winnings withdrawal) :and
Limit :- (such person is not required to file ROI
[FA -2023] Payer : Any Person • At the end of FY (Balance amount) If no PAN furnished No TDS if rent ≤ 50000 p.m
Payee : Any person If winning in Kind , the winnings will be u/s 139)
TDS -20% Sec 206AA Sec 194Q 0.1% of excess of 50 Limit :-
released only after TDS is paid to govt.
Sec 194J 2% - FTS, call centre, Limits :- Payment for Lacs Aggregate amount in a year ≤ 50 Lacs
Sec 194BB 30% No TDS if Aggregate Amount ≤ 10000 for Fees for royalty on sale - Professional fees ≤ 30000
Winning from Payer : Any person FY purchase of
professional or distribution - Technical fees For each goods If no PAN furnished - No TDS u/s 194Q if:-
horse race Payee : Any person and technical of films - Royalty category of
Sec 194C Individual/HUF – 1% Limits :- 5% • TDS already deducted under other sec
services 10% - Others - Non-compete fees payments (194O)
Payment to Others – 2% • Single payment ≤ 30000 Sitting fees to DIR – No Limit Payer : Resident buyer • TCS already collected u/s 206C(1H)
contractors Payer : any person • Aggregate during FY ≤ 100000 Payer : any person
(other than Indv. /HUF (once exceeded 1 lac, TDS deducted on
whose T/O of • In case 194Q & 206C(1H) both applies
(other than Indv./HUF No tds if:- preceding PY > 10 – apply sec 194Q,
whose TO/GR is up to total amount) whose TO/GR is up to • Payment by Indv./HUF for personal
1cr/ 50 lacs) No TDS if :-
Crore • 194Q is applicable on advance amount
1cr/ 50 lacs) purpose
Payee : Resident • Payment made by indv/HUF
Payee : Resident Seller • In the year of incorporation 194Q does
Payee : Resident
person exclusively for personal purpose not apply Bcoz PY turnover is NIL
person
Sec 194D 5% Limit :- Sec194R 10% of value of Limit:-
Sec 194K 10% Limit :-
Insurance Payer : any person No TDS if aggregate amount ≤ 15000 Benefits or benefit (FMV) Aggregate amount in FY ≤ 20000
Income in • No TDS if aggregate amount in FY ≤
commission Payee : Resident perquisites in • If gift is in kind, payer has to ensure
respect of Payer : any person 5000
Sec 194DA 5% On (maturity Deducted at the time of Payment money or in Payer : any person that TDS has been deducted & paid to
units Payee : Resident No TDS if income is in the nature of
Maturity amount – premium) kind w.r.t (other than Indv./HUF govt.
capital gain
proceeds of No TDS if business or whose TO/GR is up to • 194R NA on loan waiver /settlement
Sec 194LA 10% Deducted at the time of Payment profession 1cr/ 50 lacs)
Life insurance Payer : any person • maturity amount in FY < 100000 by banks
Compensation Limit :-
policy Payee : Resident • exempt under sec 10(10D)
Payee : Resident • 194R NA on sale discount, cash
on compulsory Payer : any person No TDS if aggregate amount ≤ 250000 person
Sec 194G 5% Limit :- discount or rebates between seller and
acquisition of Payee : Resident (No TDS on rural agricultural Land)
Commission on Payer : Any person No TDS if amount ≤ 15000 buyer
immovable person
sale of lottery Payee : Any person • 194R NA on Bonus and right issues
Prop
tickets

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