Introduction:
The tables under show the different TDS rates that apply to different transactions, and the TDS rates on local and international corporations in India. Any individual receiving income is required to deduct TDS and remit the same by the deadline.
Rates of Tax Deducted at Source for Financial Year 2021-22 and 2020-21
- TDS Rates for Indian Resident Individuals
| Particulars | TDS Rates |
| Section 192: Salary Payment Section 192A: EPF Early Withdrawal | According to the current slab rate 10% of the income amount |
| Section 193: Security Interest * Any State or Central Govt. security * Any security issued by a local authority or organisation created by a State, Central, or Provincial Act * Any debenture issued by a corporation and listed on a regulated stock market * Any other Security Interest | 10% of the income amount 10% of the income amount 10% of the income amount 10% of the income amount |
| Section 194: Dividend Payment | 10% of the income amount |
| Section 194A: Interest Income (Apart from Security Interest) | 10% of the income amount |
| Section 194B: Winnings from Lottery, Crossword, Card or any other Game | 30% of the income amount |
| Section 194C: Contractor or Sub-contractor payment * Individuals or Hindu Undivided Family * Others | 30% of the income amount |
| Section 194D: Commission related to Insurance | 5% of the income amount |
| Section 194DA: Life Insurance Payment | 5% of the income amount |
| Section 194EE: Payment of an amount standing to a person’s credit under NSS | 10% of the income amount |
| Section 194F: Repurchase of any unit by UTI or Mutual Fund | 20% of the income amount |
| Section 194G: Lottery Ticket Payments | 5% of the income amount |
| Section 194H: Brokerage or Commission | 5% of the income amount |
| Section 194-I: Rent on *Plant and Machinery Rent *Land, Building, Fitting, Furniture Rent | 2% of the income amount 10% of the income amount |
| Section 194-IA: Payment in exchange for the transfer of specified immovable property that is not agricultural. Section 194-IB: Individual or HUF rent payments not covered under Section 194I. Section 194-IC: Individual or HUF payments under JDA | 1% of the income amount 5% of the income amount 10% of the income amount |
| Section 194-J: Payment as *Professional Services Fees *Fees, Remuneration or Commission paid to any Director *Payment related to not conducting any action in connection with a company *Payment related to copyright sharing *Technical Service Fees *Sale or Distribution Royalty, or Cinematographic Films Exhibition *Technical Services Fees but the payee is in the field of running a contact centre. | 10% of the income amount 10% of the income amount 10% of the income amount 10% of the income amount 2% of the income amount 2% of the income amount 2% of the income amount |
| Section 194K: Income Payment for mutual fund units pursuant to section 10(23D) of IT Act, or from an administrator or designated entity | 10% of the income amount |
| Section 194LA: Payment as compensation of specified immovable property acquisition | 10% of the income amount |
| Section 194LBA(1): Specified distributed income from any business to unitholders | 10% of the income amount |
| Section 194LBB: Payment made to a unit holder in relation to the investment fund units. | 10% of the income amount |
| Section 194LBC: Securitisation Fund Income from * Hindu Undivided Family or Individual * Others | 25% of the income amount 30% of the income amount |
| Section 194M: Specified payments made by HUF or Individuals (Up to a limit of 50,00,000 INR) | 5% of the income amount |
| Section 194N If the person withdrawing the money have not filed Income Tax Returns for the previous 3 years. * If the amount is more than 20,00,000 INR but less than 1,00,00,000 INR. * If the amount is more than 1,00,00,000 INR. | 2% of the income amount 2% of the income amount 5% of the income amount |
| Section 194O: Sale of services or goods by any e-commerce operator via online platforms or facilities | 1% of the income amount |
| Section 194P: Specified tax deductions on payments made to senior citizens | Total income taxed at the current rates |
| Section 194Q: Payments of goods sale over a total value of 50,00,000 INR | 0.1% of the income amount |
| Other Sources of Income | 10% of the income amount |
- TDS Rates for Non-Resident Indians
| Particulars | TDS Rates |
| Section 192: Salary Payment Section 192A: EPF Early Withdrawal | According to the current slab rate 10% of the income amount |
| Section 194B: Winnings from Lottery, Crossword, Card or any other Game | 30% of the income amount |
| Section 194BB: Horse Race Winnings | 30% of the income amount |
| Section 194E: Payments to any non-resident sportsman, entertainer, or sports association. | 20% of the income amount |
| Section 194EE: Payment of an amount standing to a person’s credit under NSS | 10% of the income amount |
| Section 194F: Repurchase of any unit by UTI or Mutual Fund | 20% of the income amount |
| Section 194G: Lottery Ticket Payments | 5% of the income amount |
| Section 194LB: Payment as compensation of specified immovable property acquisition | 5% of the income amount |
| Section 194LBA(2) Payment as * Interest income collected or payable from an SPV by any business trust and distributed to its shareholders * Dividend income obtained from an SPV by any business trust where it owns the full share capital | 5% of the income amount 10% of the income amount |
| Section 194LBA(3): Rental income from real estate directly owned by the business to its unitholders. | 30% of the income amount |
| Section 194LBB: Specified payments made by investment funds to unitholders | 30% of the income amount |
| Section 194LBC: Securitisation fund investment income | 30% of the income amount |
| Section 194LC: Interest Payment on a credit borrowed in international currency by any Indian firm or business organization in exchange for a loan contract or the issuance of long-term securities. **In case of the interest being payable against bonds listed in stock exchange | 5% of the income amount 4% of the income amount |
| Section 194LD: Payment of bond interest (in rupees) to any International Institutional Investor or a Qualified Foreign Investor. | 5% of the income amount |
| Section 195: * Investment Income made by any Non-Resident citizen * Income via LTCG referred in Section 115E * Income via LTCG referred in Section 12(1)(c)(iii) * Income via LTCG referred in Section 112A * Income via LTCG referred in Section 111A * Other income via LTCG * Payable income on credit borrowed by any Indian concern or government in international currency * Royalty Income due to an Indian company by the government or any Indian concern for copyright in a topic described in Section 115A first proviso or computer software addressed in Section 115A second proviso. * Royalty Income due to an Indian company by the government or any Indian concern in accordance with a section 115A industrial policy agreement * Technical fees income due to an Indian company by the government or any Indian concern in accordance with a contract on industrial policy issues * Other Incomes | 20% of the income amount 10% of the income amount 10% of the income amount 10% of the income amount 15% of the income amount 20% of the income amount 20% of the income amount 10% of the income amount 10% of the income amount 10% of the income amount 30% of the income amount |
| Section 196B: Offshore fund unit income | 10% of the income amount |
| Section 196C: International currency bond income or income from Indian company GDR | 10% of the income amount |
| Section 196D: Foreign Institutional Investor Income | 20% of the income amount |
- TDS Rates for Domestic Companies
| Particulars | TDS Rates |
| Section 192: Salary Payment Section 192A: EPF Early Withdrawal | According to the current slab rate 10% of the income amount |
| Section 193: Security Interest * Any State or Central Govt. security * Any security issued by a local authority or organisation created by a State, Central, or Provincial Act * Any debenture issued by a corporation and listed on a regulated stock market * Any other Security Interest | 10% of the income amount 10% of the income amount 10% of the income amount 10% of the income amount |
| Section 194: Dividend Payment | 10% of the income amount |
| Section 194A: Interest Income (Apart from Security Interest) | 10% of the income amount |
| Section 194B: Winnings from Lottery, Crossword, Card or any other Game | 30% of the income amount |
| Section 194BB: Horse Race Winnings | 30% of the income amount |
| Section 194C: Contractor or Sub-contractor payment * Individuals or Hindu Undivided Family * Others | 1% of the income amount 2% of the income amount |
| Section 194D: Commission related to Insurance | 5% of the income amount |
| Section 194DA: Life Insurance Payment | 5% of the income amount |
| Section 194EE: Payment of an amount standing to a person’s credit under NSS | 10% of the income amount |
| Section 194F: Repurchase of any unit by UTI or Mutual Fund | 20% of the income amount |
| Section 194G: Lottery Ticket Payments | 5% of the income amount |
| Section 194H: Brokerage or Commission | 5% of the income amount |
| Section 194-I: Rent on * Plant and Machinery Rent * Land, Building, Fitting, Furniture Rent | 2% of the income amount 10% of the income amount |
| Section 194IA: Payment in exchange for the transfer of specified immovable property that is not agricultural property. | 1% of the income amount |
| Section 194IC: Individual or HUF payments under JDA | 10% of the income amount |
| Section 194-J: Payment as * Professional Services Fees * Fees, Remuneration or Commission paid to any Director * Payment related to not conducting any action in connection with a company * Payment related to copyright sharing * Technical Service Fees * Sale or Distribution Royalty, or Cinematographic Films Exhibition * Technical Services Fees but the payee is in the field of running a contact centre. | 10% of the income amount 10% of the income amount 10% of the income amount 10% of the income amount 2% of the income amount 2% of the income amount 2% of the income amount |
| Section 194K: Income Payment for mutual fund units pursuant to section 10(23D) of IT Act, or from an administrator or designated entity | 10% of the income amount |
| Section 194LA: Payment as compensation of specified immovable property acquisition | 10% of the income amount |
| Section 194LBA(1): Specified distributed income from any business to unitholders | 10% of the income amount |
| Section 194LBB: Payment made to a unit holder in relation to the investment fund units. | 10% of the income amount |
| Section 194LBC: Securitisation Fund Income | 10% of the income amount |
| Section 194M: Specified payments made by HUF or Individuals (Up to a limit of 50,00,000 INR) | 5% of the income amount |
| Section 194N If the person withdrawing the money have not filed Income Tax Returns for the previous 3 years. * If the amount is more than 20,00,000 INR but less than 1,00,00,000 INR. * If the amount is more than 1,00,00,000 INR. | 2% of the income amount 2% of the income amount 5% of the income amount |
| Section 194O: Sale of services or goods by any e-commerce operator via online platforms or facilities | 1% of the income amount |
| Section 194Q: Payments of goods sale over a total value of 50,00,000 INR | 0.1% of the income amount |
| Other Incomes | 10% of the income amount |
- TDS Rates for Non-Domestic Companies
| Particulars | TDS Rates |
| Section 194B: Winnings from Lottery, Crossword, Card or any other Game | 30% of the income amount |
| Section 194BB: Horse Race Winnings | 30% of the income amount |
| Section 194E: Payments to any non-resident sportsman, entertainer, or sports association. | 20% of the income amount |
| Section 194G: Lottery Ticket Payments | 5% of the income amount |
| Section 194LB: Payment as compensation of specified immovable property acquisition | 5% of the income amount |
| Section 194LBA(2) Payment as * Interest income collected or payable from an SPV by any business trust and distributed to its shareholders * Dividend income obtained from an SPV by any business trust where it owns the full share capital | 5% of the income amount 10% of the income amount |
| Section 194LBA(3): Rental income from real estate directly owned by the business to its unitholders. | 40% of the income amount |
| Section 194LBB: Specified payments made by investment funds to unitholders | 40% of the income amount |
| Section 194LBC: Securitisation fund investment income | 40% of the income amount |
| Section 194LC: Interest Payment on a credit borrowed in international currency by any Indian firm or business organization in exchange for a loan contract or the issuance of long-term securities. **In case of the interest being payable against bonds listed in stock exchange | 5% of the income amount 4% of the income amount |
| Section 194LD: Payment of bond interest (in rupees) to any International Institutional Investor or a Qualified Foreign Investor. | 5% of the income amount |
| Section 195: * Investment Income made by any Non-Resident citizen * Income via LTCG referred in Section 115E * Income via LTCG referred in Section 12(1)(c)(iii) * Income via LTCG referred in Section 112A * Income via LTCG referred in Section 111A * Other income via LTCG * Payable income on credit borrowed by any Indian concern or government in international currency * Royalty Income due to an Indian company by the government or any Indian concern for copyright in a topic described in Section 115A first proviso or computer software addressed in Section 115A second proviso. * Royalty Income due to an Indian company by the government or any Indian concern in accordance with a section 115A industrial policy agreement * Technical fees income due to an Indian company by the government or any Indian concern in accordance with a contract on industrial policy issues * Other Incomes | 10% of the income amount 10% of the income amount 15% of the income amount 20% of the income amount 20% of the income amount 10% of the income amount 50% of the income amount 10% of the income amount 50% of the income amount 10% of the income amount 40% of the income amount |
| Section 196B: Offshore fund unit income | 10% of the income amount |
| Section 196C: International currency bond income or income from Indian company GDR | 10% of the income amount |
| Section 196D: Foreign Institutional Investor Income | 20% of the income amount |
Conclusion
Hopefully the information provided by these tables has helped you to find what you’re looking for. It is crucial to remember, however, that these TDS rates are issued by the Central Government and may be altered at any time. As a result, keeping up with current rates is critical to avoiding future headaches.
FAQ’s
TDS is a tax amount deducted from a taxpayer by his/her employer or any other deductor and submitted with the Indian IT Department on his or her behalf.
Yes. Income Tax Act Section 192 requires a TDS deduction on salary.
| Period | Government | Non-Government |
| April 2021 – February 2022 | Last date of the month | Following month’s 7th day |
| Match 2022 | April 7th 2022 | April 30th 2022 |
