TDS Deduction Chart for FY 2024-25 – All Sections & Rates
Tax Deducted at Source (TDS) is the government's mechanism to collect tax at the point of income generation. Every person making specified payments is required to deduct TDS at prescribed rates and deposit it with the government. This comprehensive chart covers all major TDS sections applicable for FY 2024-25.
What is TDS?
TDS is a form of advance tax collection where the payer deducts tax before making the payment to the payee. The deducted amount is deposited with the government and the payee receives credit for it in their Form 26AS. TDS applies to various payments including salary, interest, rent, commission, and professional fees.
Complete TDS Rate Chart – FY 2024-25
| Section | Nature of Payment | Threshold (Rs) | TDS Rate |
|---|---|---|---|
| 192 | Salary | Basic exemption limit | Slab rates |
| 193 | Interest on securities | 10,000 | 10% |
| 194 | Dividend | 5,000 | 10% |
| 194A | Interest (other than securities) | 40,000 (50,000 for seniors) | 10% |
| 194B | Lottery/crossword winnings | 10,000 | 30% |
| 194BB | Horse race winnings | 10,000 | 30% |
| 194C | Contractor payments (Individual/HUF) | 30,000 single / 1,00,000 aggregate | 1% |
| 194C | Contractor payments (Others) | 30,000 single / 1,00,000 aggregate | 2% |
| 194D | Insurance commission | 15,000 | 5% |
| 194H | Commission/brokerage | 15,000 | 5% |
| 194I(a) | Rent – Plant/machinery/equipment | 2,40,000 | 2% |
| 194I(b) | Rent – Land/building/furniture | 2,40,000 | 10% |
| 194IA | Property purchase (above Rs 50L) | 50,00,000 | 1% |
| 194J | Professional/technical fees | 30,000 | 10% |
| 194J | FTS to call centers | 30,000 | 2% |
| 194K | Mutual fund income | 5,000 | 10% |
| 194N | Cash withdrawal | 1,00,00,000 | 2% |
| 194O | E-commerce payments | 5,00,000 | 1% |
| 194Q | Purchase of goods | 50,00,000 | 0.1% |
TDS on Salary – Section 192
TDS on salary is deducted by the employer based on the employee's estimated annual income and applicable tax slab. The employer considers declared investments and deductions to calculate the net taxable salary and deducts TDS equally across monthly payments.
TDS on Interest – Section 194A
Banks and financial institutions deduct TDS at 10% on interest income (FDs, RDs) if the annual interest exceeds Rs 40,000 (Rs 50,000 for senior citizens). To avoid TDS, submit Form 15G (below 60 years) or Form 15H (60 years and above) if your total income is below the taxable limit.
TDS on Rent – Section 194I
Individuals and HUFs who are subject to tax audit must deduct TDS on rent payments exceeding Rs 2,40,000 per year. For those not subject to audit, Section 194-IB requires TDS at 5% if monthly rent exceeds Rs 50,000.
Higher TDS for Non-Filers
Under Section 206AB, a higher TDS rate applies to taxpayers who have not filed their income tax return for the past two years and whose TDS/TCS in each year exceeded Rs 50,000. The TDS rate is the higher of:
- Twice the prescribed rate
- 5%
No PAN / Invalid PAN – Section 206AA
If the payee does not provide PAN or provides an invalid PAN, TDS is deducted at the higher of:
- The prescribed rate
- 20%
TDS Return Filing Due Dates
| Quarter | Period | Due Date |
|---|---|---|
| Q1 | April to June | 31st July |
| Q2 | July to September | 31st October |
| Q3 | October to December | 31st January |
| Q4 | January to March | 31st May |
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