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Latest TDS Rate Chart as per the Income Tax Act for FY 24-25

Tax Deducted at Source or TDS is a tax deducted on various income sources such as salary, payment, interest earned, commission, etc. Hence, it is important to keep a tab on the updated rates to streamline payment.

Keep scrolling to find detailed information on the TDS chart for the financial year 2024-25.

Table of Contents

New TDS Rate Chart for FY 2024-25

Existing TDS Rate Chart

TDS Slab Rates for Indian Residents & NRI

TDS Slab Rates for Domestic & Foreign Companies

Frequently Asked Questions

New TDS Rate Chart for FY 2024-25

Budget 2024 made changes in the TDS rates on specified payments and reduced TDS tax rates to boost business and improve taxpayer compliance. So, here is the table with the changes in TDS rates for FY 2024-25.

TDS Sections and Nature of Payment Existing TDS Rate  New TDS Rate Effective from 
Section 194D - Payment of insurance commission in case of other than company 10% for domestic companies
5% for other companies		 Same for domestic companies
2% for other companies		 1st April 2025
Section 194DA - Payment for life insurance policy  5% 2%  1st October 2024
Section 194G - Commission from the sale of lottery ticket 5% 2% 1st October 2024
Section 194H - Commission or brokerage earned 5% 2% 1st October 2024
Section 194-IB - Rent of building, land, and furniture by individuals & HUF 5% 2% 1st October 2024
Section 194M - Payment of certain sums by certain individuals or HUFs 5% 2% 1st October 2024
Section 194-O - TDS on e-commerce 1% 0.1% 1st October 2024
Section 194F - Payment for repurchase of units by mutual funds or UTI Proposed to be Omitted 1st October 2024

Existing TDS Rate Chart for FY 2024-25

Here is the TDS deduction chart with various TDS rates applicable to resident and non-resident Indians, and domestic and foreign companies in India. These are the existing TDS tax rates applicable for FY 2024-25.

TDS Sections and Nature of Payment Threshold Individual/ HUF TDS Rate Chart PDF
Section 192A, Premature withdrawal of EPF ₹50,000  10% (20% if no PAN card) 
Section 192, Salary As per the employee’s IT declaration  As per applicable income tax slab 
Section 193, Interest amount on securities ₹2,500  10% 
Section 194, Dividends ₹5000  10% 
Section 194A, Interest on assets and securities from banks ₹40,000  10% 
Section 194A, Senior citizens  ₹50,000  10% 
Section 194B, Applicable on money earned through any competition or lottery ₹10,000 30%
Section 194BB, Prize amount on winning horse race ₹10,000 (aggregate in a fiscal year) 30%
Section 194C, Contractor payment  ₹30,000 for single transaction
₹1,00,000 for single transaction		 1% for individuals and HUF
2% for other taxpayers
Section 194E, Payment to a non-residential sportsperson  No limit  20% 
Section 194EE, Deposit under NSS  ₹2,500  10% 
Section 194-I(a), TDS on rent ₹2,40,000  2% (from machines or equipment)
10% (from land, buildings and furniture)
Section 194IA, Transfer of immovable property besides agricultural land ₹50,00,000  1% 
Section 194IC, Payment on agreement  No limit  10% 
Section 194J, Fee paid for technical services, royalty  ₹30,000  2% 
Section 194J, Fee paid for professional services  ₹30,000  10% 
Section 194K, Payment for mutual funds  ₹5000  10% 
Section 194LA, Compensation on the transfer of immovable property other than agricultural land ₹2,50,000  10% 
Section 194LB, Income from infrastructure debt fund interest (TDS rate for NRI) No limit  5% 
Section 194LBA, Income from units of a business trust No limit 10% for resident individuals
5% for NRI
Section 194LBB, Income from units of investment funds No limit  10% for resident individuals
30% for NRIs 
40% for foreign companies 
Section 194LBC, Income earned from investments of securitization trusts No limit  25% for resident individuals
30% for NRIs 
40% for foreign companies
Section 194LD, Income earned from certain Government security and bond’s interest No limit  5% 
Section 194N, Cash withdrawal in previous year from one or more accounts with a lending institution ₹1 crore  2% 
Section 194Q, Payment to purchase goods  ₹50,00,000  0.10% 
Section 194S, Transfer of crypto or other virtual digital assets ₹50,000 for individual or a HUF not having income from business or profession
₹10,000 for others		 1%
Section 196B, Income from the offshore funds  No limit  10% 
Section 196C, Income from foreign current bonds  No limit  10% 
Section 196D, Income from foreign institutional investors No limit  20% 
Section 206AA, Non-availability of PAN No limit Twice the TDS rate given in the Income Tax Act or 20% (whichever is higher) 
Section 206AA, Non-filing of Income tax return No limit Twice the TDS rate given in the Income Tax Act or 5% (whichever is higher) 

Technically, the concept of TDS was introduced to collect tax from the very source of income. This obligates a deductor, liable to make payment to a deductee, make tax deduction at source and forward the same into the central government’s account.

Hence, apart from the mentioned TDS rates in the table, the government has set specific rates for Indian entities other than a company.

TDS Rates for Residents of India (Other than a Company)

Here is a table showing the current TDS rate chart for Indian residents.

Nature of Payment Section TDS Rate
Payment of salary  192  Normal tax slab rate 
Premature withdrawal from EPF  192A  With PAN: 10%
Without PAN: 20%
Interest on securities  193  10% 
Payment of any dividend  194  10% 
Income in the form of interest from bank  194A  10% 
Income from a lottery and other games  194B  30% 
Income from online games  194BA  30% 
Income from horse race winnings  194BB  30% 
Payment to the contractor - HUF/Individual  194C  1% 
Payment to the contractor - Others  194C  2% 
Insurance commission 194D 2% (effective from 1st April 2025) 
Payment of any sum towards a life insurance policy 194DA 2% (effective from 1st October 2024) 
Payment under National Savings Scheme  194EE  5% 
Payment due to repurchase of a unit by UTI or a mutual fund 194F  Proposed to be omitted (effective from 1st October 2024) 
Commission payments from the sale of lottery ticket 194G  2% (effective from 1st October 2024) 
Commission or brokerage  194H 2% (effective from 1st October 2024) 
Rent on plant/machinery

Rent on land, furniture, building or fitting		 194-I(a) 2%

10%
Payment made on transfer of certain immovable property other than agricultural land 194-IA 1% 
Rent payment by an HUF or individual 194-IB  2% (effective from 1st October 2024) 
Payment under a joint development agreement  194-IC  10% 
Fee for professional services, commission to a director and not carrying out any activity regarding the business

Not sharing any patent for technical services and sale or distribution		 194J 10%

2%
Payment of any income on units of a mutual fund  194K  10% 
Payment on certain immovable property  194LA  10% 
Income distributed by a business trust to its unit holder  194LBA(1)  10% 
Income from units of investment fund  194LBB  10%  
Income from investment in securitisation fund for individuals/HUF  194LBC  25% 
Payments by individual/HUF with a limit of ₹50 lakhs 194M  2% (effective from 1st October 2024) 
Withdrawal exceeding amount limit ₹1 crore  194N  2% 
Sale of goods by e-commerce platforms 194O  0.1% (effective from 1st October 2024)
Tax deduction by lending institutions while making payments 194P Tax on total income
Payments on purchase of goods with the aggregate value of goods exceeding ₹50 lakhs 194Q  0.1% 
Any other income Not applicable  10% 

TDS Rate Chart for Non-Resident Indians (Other Than a Company)

Here is a table showing the TDS rates for NRI’s under different sections.

Nature of Payment Section TDS Rate
Payment of salary  192  Normal tax slab rate 
Premature withdrawal from EPF  192A  10% 
Income from lottery winnings  194B  30% 
Income from horse race winnings  194BB  30% 
Payment to non-resident sportsperson/ sports association/ entertainer 194E  20% 
Payment to a person under National Savings Scheme (NSS)  194EE  10% 
Payment from repurchasing a unit by UTI  194F  Proposed to be omitted (effective from 1st October 2024) 
Commission payments from the sale of lottery ticket  194G  2% (effective from 1st October 2024) 
Payment on compensation on immovable property  194LB  5% 
Interest receivable to a business  194LBA(2)  5% 
Dividend received from SPV by a business trust  194LBA(2)  10% 
Rental income, or income from real estate assets owned by business trust  194LBA(3)  30% 
Income from an investment fund to a unit holder  194LBB  30% 
Income from investment in securitisation fund  194LBC  30% 
Interest for the loan borrowed in foreign currency by an Indian company 194LC  5% 
Interest payable against long term bonds listed in IFSC 194LC  4% 
Payment of interest on the bond to foreign investor  194LD  5% 
Any income through LTCG  195  15% 
Payment of any other sum to NRI by way of - LTCG under section 112A, STCG under section 111A, LTCG under section 112(1)(c)(iii), royalty payable to the Indian government for agreement on industrial policy, technical fees to the Indian government related to industrial policy 195  10% 
Payment of any other sum to NRI by way of - Investment made by NRI, LTCG referred to in section 115E, Interest payable on sum borrowed by the Indian government in foreign currency, royalty payable to the Indian concern by government or Indian concern in pursuance of an agreement on matters related to industrial policy income from royalty payable to or by the Indian government for the copyright referred in Section 115A 195  20% 
Any other income related to NRI 195  30% 
Income from units of an offshore fund 196B  10% 
Income from foreign currency bonds or GDR of an Indian company 196C  10% 

Apart from Indian and non-Indian residents, the companies are obligated to pay a certain amount of TDS. Therefore, we have segregated the TDS rate for firms according to domestic and non-domestic categories.

TDS Rate Chart for Domestic Companies

Here is a table of the TDS slab rates for domestic companies.

Nature of Payment Section TDS Rate for Company (Domestic)
Premature withdrawal from EPF  192  10% 
Premature withdrawal from EPF  192A  With PAN: 10% 
Interest on securities  193  10% 
Payment of any dividend  194  10% 
Income in the form of interest from bank  194A  10% 
Income by way of lottery winnings  194B  30% 
Income from horse race winnings  194BB  30% 
Payment to contractor or sub-contractor- individuals/HUF  194C  1% 
Payment to contractor or sub-contractor- others  194C  2% 
Insurance commission  194D  2% (effective from 1st April 2025) 
Payment in respect of a life insurance policy  194DA  2% (effective from 1st October 2024) 
Payment to a person under National Savings Scheme (NSS)  194EE  10% 
Payment from repurchase of a unit by UTI or a mutual fund  194F  Proposed to be omitted (effective from 1st October 2024) 
Commission payments from the sale of lottery ticket  194G  2% (effective from 1st October 2024) 
Commission or brokerage  194H  2% (effective from 1st October 2024) 
Rent on plant/machinery

Rent on land, furniture, building or fitting		 194-I(a)  2%

10%
Payment on transferring immovable property other than agricultural land 194-IA 1% 
Monetary consideration under Joint Development Agreements to HUF or individual 194-IC 10% 
Fee for professional services, commission to a director and not carrying out any activity regarding the business

Not sharing any patent for technical services and sale or distribution		 194J 10%

2% 
Payment of income against mutual funds as per Section 10(23D)  194K  10% 
Payment on the attainment of certain immovable property  194LA  10% 
Income paid against investment fund to a unit holder  194LBB  10% 
Income distributed by a business trust to its unit holder  194LBA(1)  10% 
Income from investment in securitisation fund  194LBC  10% 
Payments by individual/HUF with a limit of ₹50 lakhs  194M  2% (effective from 1st October 2024) 
Cash withdrawal exceeding amount limit ₹1 crore 194N  2% 
Sale of goods by e-commerce platforms  194O  0.1% (effective from 1st October 2024) 
Payments to residents for purchasing goods when the aggregate value of goods exceeds ₹50 lakhs  194Q  0.1% 

Apart from Indian and non-Indian residents, the companies are obligated to pay a certain amount of TDS. Therefore, we have segregated the TDS rate for firms according to domestic and non-domestic categories.

TDS Rates for Non-Domestic Companies

Here is a table explaining the TDS deduction chart for non-domestic companies which are held as private limited.

Nature of Payment Section TDS Rate
Income from lottery winnings and other games  194B  30% 
Income from horse race winnings  194BB  30% 
Payment to non-resident sportsperson/ sports association/ entertainer 194E  20% 
Commission payments from the sale of lottery ticket  194G  2% (effective from 1st October 2024) 
Payment in on the purchase of an immovable property  194LB  5% 
Interest receivable to a business

Dividend received from SPV by a business trust		 194LBA(2)  5%

10%
Rental income, or income from real estate assets owned by business trust  194LBA(3)  40% 
Income from an investment fund to a unit holder  194LBB  40% 
Income from investment in securitisation fund  194LBC  40% 
Interest on a loan borrowed by an Indian company in foreign currency  194LC  5% 
Interest payable against long term bonds listed in IFSC  194LC  4% 
Payment of interest on the bond to foreign investors  194LD  5% 
Income (including LTCG) from units of an offshore fund  196B  10% 
Income (inclusive of LTCG) from foreign currency bonds  196C  10% 
Income (excluding dividend and capital gain) from foreign institutional investors  196D  20% 

Refer to the following table for TDS rates on Pvt. Ltd. companies under Section 195.

Nature of Payment Section TDS Rate
Income by way of STCG under section 111A  195  15% 
Earnings from royalty payable to the Indian concern by government or Indian concern in pursuance of an agreement on matters related to industrial policy  195  10% 
Income arising out of long-term capital gains as per the recommendations of Section 112A  195  10% 
Payment of any other amount to a Non-resident company from income arising from any other source  195  40% 
Payment from- Any other sum such as-Income by way of LTCG under section 112(1)(c)(iii), Income earned in terms of fees which is payable by the government or an Indian organisation for technical services, Income arising out of royalty which is payable by the government or an Indian organisation subject to certain conditions.  195  10% 

The following tables will help you understand the differences in TDS rates for specific individuals and companies.

Since the calculation is quite complicated, we suggest using online TDS calculators to streamline the entire process.

FAQs about TDS Rate Chart

What are the TDS rates applicable on interest on securities?

The TDS rate applicable on interest on securities is 10%.

What are the new changes in TDS rates for FY 2024-25?

Budget 2024 has amended the TDS rates for specific payments and reduced them to promote businesses in India and improve compliance among taxpayers. These changes will take effect from either October 1, 2024, or April 1, 2025.

Are new TDS rates applicable on non-salary payments from 2023?

Yes, new TDS rates will be applicable on non-salary payments from FY 2023-24.

Is TDS compulsory for companies?

Yes, TDS on salary is compulsory for companies under Section 192 of the Income Tax act. An employer who pays wages to his/her employee must deduct TDS from the salary if the total income exceeds a certain limit.

Where can I check the amount of TDS credit available?

You can check the TDS credit amount under Form 26AS.

What is the TDS limit for contractors FY 2024-25?

The TDS threshold limit on contractor payment is ₹30,000 per year. On exceeding this limit, TDS needs to be deducted.

What is the TDS rate chart on commission?

The current TDS rate on commission for FY 2024-25 is 2% under Section 194H of the Income Tax Act, which will be effective from 1st October 2024.

What if I make any mistakes in the TDS deduction chart?

In case the TDS is shortly deducted, then the balance tax should immediately be deposited using a new challan.  

What is the TDS rate on salary?

TDS rate on salary is different for everybody as the TDS deducted is based on the income slab applicable to that employee.