Block of assets

AYs 2003-04 to 2005-06

AY 2006-07 to AY 2017-18

AY 2018-19  onwards

1

2

3

4

PART A

I. BUILDING [See Notes 1 to 4 below the Table]

(1) Buildings which are used mainly for residential purposes except hotels and boarding houses

5

5

5

(2) Buildings other than those used mainly for residential purposes and not covered by sub-items (1) above and (3) below

10

10

10

(3) Buildings acquired on or after the 1st day of September, 2002 for installing machinery and plant forming part of water supply project or water treatment system and which is put to use for the purpose of business of providing infra- structure facilities under clause (i) of sub-section (4) of section 80-IA

100

100

40

(4) Purely temporary erections such as wooden structures

100

100

40

II. FURNITURE AND FITTINGS

Furniture and fittings including electrical fittings [See Note 5 below the Table]

15

10

10

III. MACHINERY AND PLANT

(1)  Machinery and plant other than those covered by sub-items (2), (3) and (8) below : [See Note 5A below the Table]

25

15

15

(2)  (i) Motor cars, other than those used in a business of running them on hire, acquired or put to use on or after the 1st day of April, 1990 except those covered under entry (ii);

20

15

15

  (ii) Motor cars, other than those used in a business of running them on hire, acquired on or after the 23rd day of August, 2019 but before the 1st day of April, 2020 and is put to use before the 1st day of April, 2020.

-

-

30

(3) (i) Aeroplanes - Aeroengines

40

40

40

(ii)  (a) Motor buses, motor lorries and motor taxis used in a business of running them on hire other than those covered under entry (b).

40

30

30

  (b) Motor buses, motor lorries and motor taxis used in a business of running them on hire, acquired on or after the 23rd day of August, 2019 but before the 1st day of April, 2020 and is put to use before the 1st day of April, 2020.

-

-

45

 (iii) Commercial vehicle which is acquired by the assessee on or after the 1st day of October, 1998, but before the 1st day of April, 1999 and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below the Table]

40

40

40

(iv) New commercial vehicle which is acquired on or after the 1st day of October, 1998, but before the 1st day of April, 1999 in replacement of condemned vehicle of over 15 years of age and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below the Table]

60

60

40

(v) New commercial vehicle which is acquired on or after the 1st day of April, 1999 but before the 1st day of April, 2000 in replacement of condemned vehicle of over 15 years of age and is put to use before the 1st day of April, 2000 for the purposes of business or profession in accordance with the second proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below the Table]

60

60

40

(vi) New commercial vehicle which is acquired on or after the 1st day of April, 2001 but before the 1st day of April, 2002 and is put to use before the 1st day of April, 2002 for the purposes of business or profession [See Note 6 below the Table]

50

50

40

(via) New commercial vehicle which is acquired on or after the 1st day of January, 2009 but before the 1st day of October, 2009 and is put to use before the 1st day of October, 2009 for the purposes of business or profession [See paragraph 6 of the Notes below this Table]

—

50

40

 (vii)  Moulds used in rubber and plastic goods factories

40

30

30

(viii) Air pollution control equipment, being—

(a) Electrostatic precipitation systems

100

100

40

(b) Felt-filter systems

(c) Dust collector systems

(d) Scrubber-counter current/venturi/packed bed/cyclonic scrubbers

(e) Ash handling system and evacuation system

(ix) Water pollution control equipment, being—

(a) Mechanical screen systems

 100

100

40 

(b) Aerated detritus chambers (including air compressor)

(c) Mechanically skimmed oil and grease removal systems

(d) Chemical feed systems and flash mixing equipment

(e) Mechanical flocculators and mechanical reactors

(f) Diffused air/mechanically aerated activated sludge systems

(g) Aerated lagoon systems

(h) Biofilters

(i) Methane-recovery anaerobic digester systems

(j) Air floatation systems

(k) Air/steam stripping systems

(l) Urea Hydrolysis systems

(m) Marine outfall systems

(n) Centrifuge for dewatering sludge

(o) Rotating biological contractor or bio-disc

(p) Ion exchange resin column

(q) Activated carbon column

 (x) (a) Solidwaste control equipments being - caustic/lime/chrome/mineral/cryolite recovery systems

100

100

40

(b) Solidwaste recycling and resource recovery systems

(xi) Machinery and plant, used in semi-conductor industry covering all integrated circuits (ICs) (excluding hybrid integrated circuits) ranging from small scale integration (SSI) to large scale integration/very large scale integration (LSI/VLSI) as also discrete semi-conductor devices such as diodes, transistors, thyristors, triacs, etc., other than those covered by entries (viii), (ix) and (x) of this sub-item and sub-item (8) below

40

30

30

(xia) Life saving medical equipment, being—

(a) D.C. Defibrillators for internal use and pace makers

40

 40

 40

(b) Haemodialysors

(c) Heart lung machine

(d) Cobalt Therapy Unit

(e) Colour Doppler

(f) SPECT Gamma Camera

(g) Vascular Angiography System including Digital subtraction Angiography

(h) Ventilator used with anaesthesia apparatus

(i) Magnetic Resonance Imaging System

(j) Surgical Laser [See Note 5B]

(k) Ventilators other than those used with anaesthesia

(l) Gamma knife

(m) Bone Marrow Transplant Equipment including silastic long standing intravenous catheters for chemotherapy

(n) Fibreoptic endoscopes including Paediatric resectoscope/audit resectoscope, Peritoneoscopes, Arthoscope, Microlaryngoscope, Fibreoptic Flexible Nasal Pharyngo Bronchoscope, Fibreoptic Flexible Laryngo Bronchoscope, Video Laryngo Bronchoscope and Video Oesophago Gastroscope, Stroboscope, Fibreoptic Flexible Oesophago Gastroscope

(o) Laparoscope (single incision)

(4) Containers made of glass or plastic used as re-fills

50

50

40

(5) Computers including computer software [See note 7 below the Table]

60

60

40

(6) Machinery and plant, used in weaving, processing and garment sector of textile industry, which is purchased under TUFS on or after the 1st day of April, 2001 but before the 1st day of April, 2004 and is put to use before the 1st day of April, 2004 [See Note 8 below the Table]

50

50

40

(7) Machinery and plant, acquired and installed on or after the 1st day of September, 2002 in a water supply project or a water treatment system and which is put to use for the purpose of business of providing infrastructure facility under clause (i) of sub-section (4) of section 80-IA [See Notes 4 and 9 below the Table]

100

100

40

(8) (i) Wooden parts used in artificial silk manufacturing machinery

100

100

40

(ii) Cinematograph films - bulbs of studio lights

100

100

40

(iii) Match factories - Wooden match frames

100

100

40

(iv) Mines and quarries :

(a) Tubs, winding ropes, haulage ropes and sand stowing pipes

100

100

40

(b) Safety lamps

(v) Salt works - Salt pans, reservoirs and condensers, etc., made of earthy, sandy or clayey material or any other similar material

100

100

40

(vi) Flour mills - Rollers

80

80

40

(vii) Iron and steel industry - Rolling mill rolls

80

80

40

(viii) Sugar works - Rollers

80

80

40

(ix) Energy saving devices, being—

A. Specialised boilers and furnaces:

(a) Ignifluid/fluidized bed boilers

80

80

40

(b) Flameless furnaces and continuous pusher type furnaces

(c) Fluidized bed type heat treatment furnaces

(d) High efficiency boilers (thermal efficiency higher than 75 per cent in case of coal fired and 80 per cent in case of oil/gas fired boilers)

B. Instrumentation and monitoring system for monitoring energy flows:

(a) Automatic electrical load monitoring systems

 80

80

 40

(b) Digital heat loss meters

(c) Micro-processor based control systems

(d) Infra-red thermography

(e) Meters for measuring heat losses, furnace oil flow, steam flow, electric energy and power factor meters

(f) Maximum demand indicator and clamp on power meters

(g) Exhaust gases analyser

(h) Fuel oil pump test bench

C. Waste heat recovery equipment:

(a) Economisers and feed water heaters

 80

 80

40 

(b) Recuperators and air pre-heaters

(c) Heat pumps

(d) Thermal energy wheel for high and low temperature waste heat recovery

D. Co-generation systems:

(a) Back pressure pass out, controlled extraction, extraction-cum-condensing turbines for co-generation along with pressure boilers

80 

80

40

(b) Vapour absorption refrigeration systems

(c) Organic rankine cycle power systems

(d) Low inlet pressure small steam turbines

E. Electrical equipment:

(a) Shunt capacitors and synchronous condenser systems

80

80

40

(b) Automatic power cut off devices (relays) mounted on individual motors

(c) Automatic voltage controller

(d) Power factor controller for AC motors

(e) Solid state devices for controlling motor speeds

(f) Thermally energy-efficient stenters (which require 800 or less kilocalories of heat to evaporate one kilogram of water)

(g) Series compensation equipment

(h) Flexible AC Transmission (FACT) devices - Thyristor controlled series compensation equipment

(i) Time of Day (ToD) energy meters

(j) Equipment to establish transmission highways for National Power Grid to facilitate transfer of surplus power of one region to the deficient region

(k) Remote terminal units/intelligent electronic devices, computer hardware/software, router/bridges, other required equipment and associated communication systems for supervisory control and data acquisition systems, energy management systems and distribution management systems for power transmission systems

(l) Special energy meters for Availability Based Tariff (ABT)

F. Burners:

(a) 0 to 10 per cent excess air burners

 80

 80

 40

(b) Emulsion burners

(c) Burners using air with high pre-heat temperature (above 300°C)

G. Other equipment:

(a) Wet air oxidation equipment for recovery of chemicals and heat

80

80

 40

(b) Mechanical vapour recompressors

(c) Thin film evaporators

(d) Automatic micro-processor based load demand controllers

(e) Coal based producer gas plants

(f) Fluid drives and fluid couplings

(g) Turbo charges/super-charges

(h) Sealed radiation sources for radiation processing plants

(x) Gas cylinders including valves and regulators

80

60

40

(xi) Glass manufacturing concerns - Direct fire glass melting furnaces

80

60

40

(xii) Mineral oil concerns:

(a) Plant used in field operations (above ground) distribution - Returnable packages

80

60

40

(b) Plant used in field operations (below ground), but not including kerbside pumps including underground tanks and fittings used in field operations (distribution) by mineral oil concerns

(c) Oil wells not covered in clauses (a) and (b) (with effect from the assessment year 2016-17)

-

15

15

(xiii) Renewal energy devices being—

(a) Flat plate solar collectors

80

80

40

(b) Concentrating and pipe type solar collectors

(c) Solar cookers

(d) Solar water heaters and systems

(e) Air/gas/fluid heating systems

(f) Solar crop driers and systems

(g) Solar refrigeration, cold storages and air-conditioning systems

(h) Solar steels and desalination systems

(i) Solar power generating systems

(j) Solar pumps based on solar-thermal and solar-photovoltaic conversion

(k) Solar-photovoltaic modules and panels for water pumping and other applications

(l) Windmills and any specially designed devices which run on wind-mills installed on or before March 31, 2012

(m) Any special devices including electric generators and pumps running on wind energy installed on or before March 31, 2012

(n) Biogas plant and biogas engines

(o) Electrically operated vehicles including battery powered or fuel-cell powered vehicles

(p) Agricultural and municipal waste conversion devices producing energy

(q) Equipment for utilising ocean waste and thermal energy

(r) Machinery and plant used in the manufacture of any of the above sub-items

(9) (i) Books owned by assessees carrying on a profession—

(a) Books, being annual publications

100

100

40

(b) Books, other than those covered by entry (a) above

60

60

40

(ii) Books owned by assessees carrying on business in running lending libraries

100

100

40

IV. SHIPS

(1) Ocean-going ships including dredgers, tugs, barges, survey launches and other similar ships used mainly for dredging purposes and fishing vessels with wooden hull

25

20

20

(2) Vessels ordinarily operating on inland waters, not covered by sub-item (3) below

25

20

20

(3) Vessels ordinarily operating on inland waters being speed boats [See Note 10 below the Table]

25

20

20

PART B

INTANGIBLE ASSETS

Know-how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature not being goodwill of businesss of profession

25

25

25

Class of assets

Depreciation allowance as percentage of actual cost

(a) Plant and Machinery in generating stations including plant foundations :—

 (i) Hydro-electric

3.4

(ii) Steam electric NHRS & Waste heat recovery Boilers/plants

7.84

(iii) Diesel electric and Gas plant

8.24

(b) Cooling towers and circulating water systems

7.84

(c) Hydraulic works forming part of Hydro-electric system including :—

 (i) Dams, spillways weirs, canals, reinforced concrete flumes and syphons

1.95

(ii) Reinforced concrete pipelines and surge tanks steel pipelines, sluice gates, steel surge (tanks), hydraulic control valves and other hydraulic works.

3.4

(d) Building and civil engineering works of permanent character, not mentioned above

 (i) Office & showrooms

3.02

(ii) Containing Thermo-electric generating plant

7.84

(iii) Containing Hydro-electric generating plant

3.4

(iv) Temporary erection such as wooden structures

33.4

(v) Roads other than Kutcha roads

3.02

(vi) Others

3.02

(e) Transformers, transformer (Kiosk) sub-station equipment & other fixed apparatus (including plant foundations)

 (i) Transformers (including foundations) having a rating of 100 kilo volt amperes and over

7.81

(ii) Others

7.84

(f) Switchgear including cable connections

7.84

(g) Lightning arrestor :

 (i) Station type

7.84

(ii) Pole type

12.77

(iii) Synchronous condenser

5.27

(h) Batteries

33.4

 (i) Underground cable including joint boxes and disconnectioned boxes

5.27

(ii) Cable duct system

3.02

 (i) Overhead lines including supports :

 (i) Lines on fabricated steel operating at nominal voltages higher than 66 kilo volts

5.27

(ii) Lines on steel supports operating at nominal voltages higher than 13.2 kilo volts but not exceeding 66 kilo volts

7.84

(iii) Lines on steel or reinforced concrete supports

7.84

(iv) Lines on treated wood supports

7.84

(j) Meters

12.77

(k) Self-propelled vehicles

33.40

(l) Air-conditioning plants :

 (i) Static

12.77

(ii) Portable

33.40

(m) (i) Office furniture and fittings

12.77

(ii) Office equipments

12.77

(iii) Internal wiring including fittings and apparatus

12.77

(iv) Street light fittings

12.77

(n) Apparatus let on hire

 (i) Other than motors

33.4

(ii) Motors

12.77

(o) Communication equipment :

 (i) Radio and high frequency carrier system

12.77

(ii) Telephone lines and telephones

12.77

(p) Any other assets not covered above

7.69

Cost of Intangible Assets (A)

=

Cost incurred by the company in accordance with the accounting standards.

Actual Revenue for the year (B)

=

Actual revenue (Toll Charges) received during the accounting year.

Projected Revenue from Intangible Asset (C)

=

Total projected revenue from the Intangible Assets as provided to the project lender at the time of financial closure/agreement.

Cost of creation of Intangible Assets

:

Rs. 500 Crores

Total period of Agreement

:

20 Years

Time used for creation of Intangible Assets

:

2 Years

Intangible Assets to be amortised in

:

18 Years

Nature of assets

Useful Life

I. Buildings [NESD]

(a) Buildings (other than factory buildings) RCC Frame Structure

60 Years

(b) Buildings (other than factory buildings) other than RCC Frame Structure

30 Years

(c) Factory buildings

-do-

(d) Fences, wells, tube wells

5 Years

(e) Others (including temporary structure, etc.)

3 Years

II. Bridges, culverts, bunders, etc. [NESD]

30 Years

III. Roads [NESD]

(a) Carpeted roads

 (i) Carpeted Roads—RCC

10 Years

(ii) Carpeted Roads—other than RCC

5 Years

(b) Non-carpeted roads

3 Years

IV. Plant and Machinery

 (i) General rate applicable to plant and machinery not covered under special plant and machinery

(a) Plant and Machinery other than continuous process plant not covered under specific industries

15 Years

25 Years]

(ii) Special Plant and Machinery

(a) Plant and Machinery related to production and exhibition of Motion Picture Films

 1.   Cinematograph films—Machinery used in the production and exhibition of cinematograph films, recording and reproducing equipments, developing machines, printing machines, editing machines, synchronizers and studio lights except bulbs

13 Years

 2.   Projecting equipment for exhibition of films

-do-

(b) Plant and Machinery used in glass manufacturing

1. Plant and Machinery except direct fire glass melting furnaces —

Recuperative and regenerative glass melting furnaces

13 Years

2. Plant and Machinery except direct fire glass melting furnaces — Moulds [NESD]

8 Years

3. Float Glass Melting Furnaces [NESD]

10 Years

(c) Plant and Machinery used in mines and quarries—Portable under ground machinery and earth moving machinery used in open cast mining [NESD]

8 Years

(d) Plant and Machinery used in Telecommunications [NESD]

1. Towers

18 Years

2. Telecom transreceivers, switching centres, transmission and other network equipment

13 Years

3. Telecom—Ducts, Cables and optical fibre

18 Years

4. Satellites

-do-

(e) Plant and Machinery used in exploration, production and refining oil and gas [NESD]

1. Refineries

25 Years

2. Oil and gas assets (including wells), processing plant and facilities

-do-

3. Petrochemical Plant

-do-

4. Storage tanks and related equipment

-do-

5. Pipelines

30 Years

6. Drilling Rig

-do-

7. Field operations (above ground) Portable boilers, drilling tools, well-head tanks, etc.

8 Years

8. Loggers

-do-

(f) Plant and Machinery used in generation, transmission and distribution of power [NESD]

1. Thermal/Gas/Combined Cycle Power Generation Plant

40 Years

2. Hydro Power Generation Plant

-do-

3. Nuclear Power Generation Plant

-do-

4. Transmission lines, cables and other network assets

-do-

5. Wind Power Generation Plant

22 Years

6. Electric Distribution Plant

35 Years

7. Gas Storage and Distribution Plant

30 Years

8. Water Distribution Plant including pipelines

-do-

(g) Plant and Machinery used in manufacture of steel

1. Sinter Plant

20 Years

2. Blast Furnace

-do-

3. Coke ovens

-do-

4. Rolling mill in steel plant

-do-

5. Basic oxygen Furnace Converter

25 Years

(h) Plant and Machinery used in manufacture of non-ferrous metals

1. Metal pot line [NESD]

40 Years

2. Bauxite crushing and grinding section [NESD]

-do-

3. Digester section [NESD]

-do-

4. Turbine [NESD]

-do-

5. Equipments for Calcination [NESD]

-do-

6. Copper Smelter [NESD]

-do-

7. Roll Grinder

40 Years

8. Soaking Pit

30 Years

9. Annealing Furnace

-do-

10. Rolling Mills

-do-

11. Equipments for Scalping, Slitting, etc. [NESD]

-do-

12. Surface Miner, Ripper Dozer, etc., used in mines

25 Years

13. Copper refining plant [NESD]

-do-

 (i) Plant and Machinery used in medical and surgical operations [NESD]

1. Electrical Machinery, X-ray and electrotherapeutic apparatus and accessories thereto, medical, diagnostic equipments, namely, Cat- Scan, Ultrasound Machines, ECG Monitors, etc.

13 Years

2. Other Equipments.

15 Years

(j) Plant and Machinery used in manufacture of pharmaceuticals and chemicals [NESD]

1. Reactors

20 Years

2. Distillation Columns

-do-

3. Drying equipments/Centrifuges and Decanters

-do-

4. Vessel/storage tanks

-do-

(k) Plant and Machinery used in civil construction

1. Concreting, Crushing, Piling Equipments and Road Making Equipments

12 Years

2. Heavy Lift Equipments—

Cranes with capacity of more than 100 tons

20 Years

Cranes with capacity of less than 100 tons

15 Years

3. Transmission line, Tunneling Equipments [NESD]

10 Years

4. Earth-moving equipments

9 Years

5. Others including Material Handling /Pipeline/Welding Equipments [NESD]

12 Years

(l) Plant and Machinery used in salt works [NESD]

15 Years

V. Furniture and fittings [NESD]

 (i) General furniture and fittings

10 Years

(ii) Furniture and fittings used in hotels, restaurants and boarding houses, schools, colleges and other educational institutions, libraries; welfare centres; meeting halls, cinema houses; theatres and circuses; and furniture and fittings let out on hire for use on the occasion of marriages and similar functions.

8 Years

VI. Motor Vehicles [NESD]

1. Motor cycles, scooters and other mopeds

10 Years

2.  Motor buses, motor lorries, motor cars and motor taxies used in a business of running them on hire

6 Years

3. Motor buses, motor lorries and motor cars other than those used in a business of running them on hire

8 Years

4. Motor tractors, harvesting combines and heavy vehicles

-do-

5. Electrically operated vehicles including battery powered or fuel cell powered vehicles

8 Years

VII. Ships [NESD]

1. Ocean-going ships

 (i) Bulk Carriers and liner vessels

25 Years

(ii) Crude tankers, product carriers and easy chemical carriers with or without conventional tank coatings

20 Years

(iii) Chemicals and Acid Carriers :

(a) With Stainless steel tanks

25 Years

(b) With other tanks

20 Years

(iv) Liquified gas carriers

30 Years

(v) Conventional large passenger vessels which are used for cruise purpose also

-do-

(vi) Coastal service ships of all categories

-do-

(vii) Offshore supply and support vessels

20 Years

(viii) Catamarans and other high speed passenger for ships or boats

-do-

(ix) Drill ships

25 Years

(x) Hovercrafts

15 Years

(xi) Fishing vessels with wooden hull

10 Years

(xii) Dredgers, tugs, barges, survey launches and other similar ships used mainly for dredging purposes

14 Years

2. Vessels ordinarily operating on inland waters—

 (i) Speed boats

13 Years

(ii) Other vessels

28 Years

VIII. Aircrafts or Helicopters [NESD]

20 Years

IX. Railways sidings, locomotives, rolling stocks, tramways and railways used by concerns, excluding railway concerns [NESD]

15 Years

X. Ropeway structures [NESD]

15 Years

XI. Office equipment [NESD]

5 Years

XII. Computers and data processing units [NESD]

 (i) Servers and networks

6 Years

(ii) End user devices, such as, desktops, laptops, etc.

3 Years

XIII. Laboratory equipment [NESD]

 (i) General laboratory equipment

10 Years

(ii) Laboratory equipments used in educational institutions

5 Years

XIV. Electrical Installations and Equipment [NESD]

10 years

XV. Hydraulic works, pipelines and sluices [NESD]

15 Years

"(b) Continuous process plant for which no special rate has been prescribed under (ii) below [NESD]

8 Years"

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 which is taxable in the hands of an employee.

10

Section 193: Interest on securities

a) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act;

10

b) any debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder;

10

c) any security of the Central or State Government;

[i.e. 8% Savings (Taxable) Bonds, 2003 and 7.75% Saving (Taxable) Bonds, 2018, Floating Rate Savings Bonds, 2020 (Taxable) or any other notified security]

10

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 securities"

10

Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort, or from gambling or betting of any form or nature whatsoever.

30

Section 194BA: Income by way of winnings from any online game

30

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

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

5
(till 30-09-2024)

2
(w.e.f 01-10-2024)

Section 194EE: Payment in respect of deposit under National Savings scheme

10

Section 194F: Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India

Note: The provisions of this section are not applicable with effect from 01-10-2024

20

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

5
(till 30-09-2024)

2
(w.e.f 01-10-2024)

Section 194H: Commission or brokerage

5
(till 30-09-2024)

2
(w.e.f 01-10-2024)

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 other than agricultural land

1

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

5
(till 30-09-2024)

2
(w.e.f 01-10-2024)

Section 194-IC: Payment of monetary consideration under Joint Development Agreements

10

Section 194J: Fees for professional or technical services:

i)  sum paid or payable towards fees for technical services

ii)  sum paid or payable towards royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films;

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.

2

2

10

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

10

Section 194LA: Payment of compensation on acquisition of certain immovable property

10

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

10

Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)]

10

Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section 115TCA)

25 in case of Individual or HUF

30 in case of other person

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

5
(till 30-09-2024)

2
(w.e.f 01-10-2024)

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

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.

# The threshold limit of Rs. 1 crore is increased to Rs. 3 croresif the withdrawal of cash is made by co-operative society.

2

2/5

Section 194-O: Payment or credit of amount by the e-commerce operator to e-commerce participant

1
(till 30-09-2024)

0.1
(w.e.f 01-10-2024)

Section 194P: Deduction of tax by specified bank in case of senior citizen having age of 75 or more

Tax on total income as per rate in force

Section 194Q: Payment for purchase of goods of the aggregate value exceeding Rs. 50 lakhs

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

0.1

Section 194R: Deduction of tax in case any benefit or perquisite is provided and aggregate value of such benefit/perquisite exceeds Rs. 20,000

Note: Benefit or perquisite should be arising from business or the exercise of a profession by such resident.

10

Section 194S: Payment on transfer of Virtual Digital Asset

Note: No tax shall be deducted under this provision in the following circumstance:

• If the consideration is payable by any person (other than a specified person) and its aggregate value does not exceed Rs. 10,000 during the financial year.

• if the consideration is payable by a specified person and its aggregate value does not exceed Rs. 50,000 during the financial year.

Specified person means:

(a) An individual or a HUF, whose total sales, gross receipts or turnover does not exceed Rs. 1 crore in case of business or Rs. 50 lakhs in case of a profession, during the financial year immediately preceding the financial year in which virtual digital asset is transferred;

(b) An individual or a HUF who does not have any income under the head profits and gains of business or profession.

1

Section 194T: Payments of any sum in the nature of salary, remuneration, commission, bonus or interest to a partner of the firm.

Note:

(1) This provision is effective from 01-04-2025

(2) No deduction if aggregate of such sum paid/payable does not exceed Rs. 20,000 during the financial year.

10

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 which is taxable in the hands of an employee.

10

Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort or from gambling or betting of any form or nature whatsoever.

30

Section 194BA: Income by way of winnings from any online game

30

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

30

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

20

Section 194EE: Payment in respect of deposits under National Savings Scheme

10

Section 194F: Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India

Note: The provisions of this section are not applicable with effect from 01-10-2024

20

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

5

(till 30-09-2024)

2
(w.e.f 01-10-2024)

Section 194LB: Payment of interest on infrastructure debt fund

5

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

5

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

10

Section 194LBA(3): Payment of the nature referred to in section 10(23FCA) by business trust to unit holders

30

Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)].

30

Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA)

30

Section 194LC: Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond)

5 or 4* or 9**

* In case where interest is payable in respect of Long-term Bond or Rupee Denominated Bond listed on recognised stock exchange located in IFSC

** Where money borrowed from a source outside India by issuing a long-term bond or rupee-denominated bond on or after 01-04-2023, which is listed only on a recognised stock exchange located in an IFSC

Section 194LD: Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor

5

Section 195: Payment of any other sum to a Non-resident

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

20

b) Income by way of long-term capital gains referred to in Section 115E in case of a Non-resident Indian Citizen, in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

10

12.5

c) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-Section (1) of Section 112, in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

10

12.5

d) Income by way of long-term capital gains as referred to in Section 112A exceeding Rs. 1,25,000 in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

10

12.5

e) Income by way of short-term capital gains referred to in Section 111A in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

15

20

f) Any other income by way of long-term capital gains [not being long-term capital gains referred to in sections 10(33), 10(36)], in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

20

12.5

g) Income by way of interest payable by Government or an Indian 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)

20

h) Income by way of royalty payable by Government or an Indian 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

20

i) Income by way of royalty [not being royalty of the nature referred to 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

20

j) 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

20

k) Any other income

30

Section 196B: Income from units referred to in section 115AB(1)(i)

10

Section 196B: Long-term capital gain on transfer of units referred to in section 115AB, in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

10

12.5

Section 196C: Income by way of interest or dividends in respect of bonds or GDR referred to in section 115AC

10

Section 196C: Long-term capital gain arising from transfer of bonds or GDR referred to in section 115AC, in respect of transfer which takes place:
• Before 23-07-2024
• On or after 23-07-2024

10
12.5

Section 196D: Income of foreign Institutional Investors from 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%.

20

Section 196D(1A): Income in respect of securities referred to in section 115AD(1)(a) payable to specified fund [referred to in clause (c) of Explanation to section 10(4D)]
Note: Since recipient of income is a specified fund, surcharge & health and education cess shall be nil.

10

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 any local authority or a corporation established by a Central, State or Provincial Act;

10

b) any debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder;

10

c) any security of the Central or State Government;

[i.e. 8% Saving (Taxable) Bonds, 2003 and 7.75% Saving (Taxable) Bonds, 2018, Floating Rate Savings Bonds, 2020 (Taxable) or any other notified security]

10

d) interest on any other security

10

Section 194: Dividend

10

Section 194A: Income by way of interest other than "Interest on securities"

10

Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort or from gambling or betting of any form or nature whatsoever.

30

Section 194BA: Income by way of winnings from any online game

30

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

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

5
(till 30-09-2024)

2
(w.e.f 01-10-2024)

Section 194EE: Payment in respect of deposit under National Savings scheme

10

Section 194F: Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India

Note: The provisions of this section are not applicable with effect from 01-10-2024

20

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

5

(till 30-09-2024)

2
(w.e.f 01-10-2024)

Section 194H: Commission or brokerage

5
(till 30-09-2024)

2
(w.e.f 01-10-2024)

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 other than agricultural land

1

Section 194-IC:Payment of monetary consideration under Joint Development Agreements

10

Section 194J: Fees for professional or technical services:

iv)   sum paid or payable towards fees for technical services

v)   sum paid or payable towards royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films;

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.

2

2

10

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

10

Section 194LA: Payment of compensation on acquisition of certain immovable property

10

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

10

Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)] .

10

Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA)

10

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

5
(till 30-09-2024)

2
(w.e.f 01-10-2024)

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

iii)   in excess of Rs. 1 crore

iv)   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 but not exceeding Rs. 1 crore 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.

2

2/5

Section 194-O: Payment or credit of amount by the e-commerce operator to e-commerce participant

1
(till 30-09-2024)

0.1
(w.e.f 01-10-2024)

Section 194P: Deduction of tax by specified bank in case of senior citizen having age of 75 or more

Tax on total income as per rate in force

Section 194Q: Payment to resident for purchase of goods of the aggregate value exceeding Rs. 50 lakhs

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

0.1

Section 194R: Deduction of tax in case any benefit or perquisite is provided and aggregate value of such benefit/perquisite exceeds Rs. 20,000

Note: Benefit or perquisite should be arising from business or the exercise of a profession by such resident.

10

Section 194S: Payment on transfer of Virtual Digital Asset

Note: No tax shall be deducted under this provision in the following circumstance:

• If the consideration is payable by any person (other than a specified person) and its aggregate value does not exceed Rs. 10,000 during the financial year.

• if the consideration is payable by a specified person and its aggregate value does not exceed Rs. 50,000 during the financial year.

Specified person means:

(a) An individual or a HUF, whose total sales, gross receipts or turnover does not exceed Rs. 1 crore in case of business or Rs. 50 lakhs in case of a profession, during the financial year immediately preceding the financial year in which virtual digital asset is transferred;

(b) An individual or a HUF who does not have any income under the head profits and gains of business or profession.

1

Any Other Income

10

2.2 where the company is not a domestic company*-

Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort or from gambling or betting of any form or nature whatsoever.

30

Section 194BA: Income by way of winnings from any online game

30

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
(till 30-09-2024)

2
(w.e.f 01-10-2024)

Section 194LB: Payment of interest on infrastructure debt fund

5

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

5

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

10

Section 194LBA(3): Business trust shall deduct tax while distributing any income received from renting or leasing or letting out any real estate asset owned directly by it to its unit holders.

40

Section 194LBB: Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)].

40

Section 194LBC: Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA)

40

Section 194LC: Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond)

5 or 4* or 9**

* In case where interest is payable in respect of Long-term Bond or Rupee Denominated Bond listed on recognised stock exchange located in IFSC

** Where money borrowed from a source outside India by issuing a long-term bond or rupee-denominated bond on or after 01-04-2023, which is listed only on a recognised stock exchange located in an IFSC;

Section 194LD:Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor

5

Section 195: Payment of any other sum

a) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-Section (1) of Section 112, in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

10

12.5

b) Income by way of long-term capital gains as referred to in Section 112A exceeding Rs. 1,25,000 in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

10

12.5

e) Income by way of short-term capital gains referred to in Section 111A in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

15

20

f) Any other income by way of long-term capital gains [not being long-term capital gains referred to in sections 10(33), 10(36) and 112A], in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

20

12.5

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

20

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

20

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 but before the 1st day of April, 1976

50

B. where the agreement is made after the 31st day of March, 1976

20

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 but before the 1st day of April, 1976

50

B. where the agreement is made after the 31st day of March, 1976

20

i) Any other income

35

Section 196B: Income from units referred to in section 115AB(1)(i)

10

Section 196B: Long-term capital gain on transfer of units referred to in section 115AB, in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

10

12.5

Section 196C: Income by way of interest or dividends in respect of bonds or GDR referred to in section 115AC

10

Section 196C: Long-term capital gain arising from transfer of bonds or GDR referred to in section 115AC, in respect of transfer which takes place:

• Before 23-07-2024

• On or after 23-07-2024

10

12.5

Section 196D(1): Income of foreign Institutional Investors from 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%.

20

Section 196D(1A): Income in respect of securities referred to in section 115AD(1)(a) payable to specified fund [referred to in clause (c) of Explanation to section 10(4D)]

Note: Since recipient of income is a specified fund, surcharge & health and education cess shall be nil.

10