Nature of Payment Made To Residents | Threshold(Rs.) | Company / Firm /Co-operative Society /Local Authority | Individual / HUF | If No / Invalid PAN |
Section - Description | IT Rate (%) | IT Rate (%) | IT Rate (%) | |
192A - Payment of accumulated balance due to an employee. (applicable from 01.06.2015) | 50,000 | - | 10 | 30 |
193 - Interest on securities | 10,000 | 10 | 10 | 20 |
194 - Dividends | 10,000 | 10 | 10 | 20 |
194A - Interest other than interest on securities - in any Others Case | 10,000 | 10 | 10 | 20 |
194A -Banks / Co-operative society engaged in business of banking / Post Office | 50,000 | 10 | 10 | 20 |
194A - Senior citizen | 1,00,000 | - | 10 | 20 |
194B - Winning from Lotteries or crossword puzzle, etc. | 10,000 | 30 | 30 | 30 |
194B proviso - Winnings from lotteries and crossword puzzles, etc. where consideration is made in kind or cash is not sufficient to meet the tax liability and tax has been paid before such winnings are released (Applicable From 01-July-2022) | 10,000 | 30 | 30 | 30 |
194BA - Winnings from online games (Applicable From 01-April-2023) | - | 30 | 30 | 30 |
Sub-section (2) of section 194BA - Net Winnings from online games where the net winnings are made in kind or cash is not sufficient to meet the tax liability and tax has been paid before such net winnings are released | - | 30 | 30 | 30 |
194BB - Winnings from Horse Race | 10,000 | 30 | 30 | 30 |
194C - Payment to Contractors | 1,00,000 | 2 | 1 | 20 |
194IC- Payment under Specified agreement | - | 10 | 10 | 20 |
194D - Insurance Commission | 20,000 | 10 | 2 | 20 |
194DA - Payment in respect of life insurance policy (applicable from 01.10.2014) | 1,00,000 | 5 (upto 30th Sep 2024) | 5 (upto 30th Sep 2024) | 20 |
194E - Payment to Non-Resident Sportsmen or Sports Association | - | 20 | 20 | 20 |
194EE - Payments out of deposits under NSS | 2,500 | 10 | 10 | 20 |
194F - Repurchase Units by MFs | - | 20 (upto 30th Sep 2024) | 20 (upto 30th Sep 2024) | 20 |
194G - Commission - Lottery | 20,000 | 5 (upto 30th Sep 2024) | 5 (upto 30th Sep 2024) | 20 |
194H - Commission / Brokerage | 20,000 | 5 (upto 30th Sep 2024 | 5 (upto 30th Sep 2024) | 20 |
194I - Rent | 50,000 (Per month) | 10 | 10 | 20 |
194I(a) - Plant/Machinery/Equipment | 50 000 (Per month) | 2 | 2 | 20 |
194IA - Transfer of certain immovable property other than agriculture land (w.e.f. 1-6-2013) | 50,00,000 | 1 | 1 | 20 |
194J - Fees for Professional/Technical Services | ||||
194J(a) - Fees for Technical Services | 50,000 | 2 | 2 | 20 |
194J(b) - Fees for Professional services or royalty etc. | 50,000 | 10 | 10 | 20 |
194K - Payment of Dividend by Mutual Funds (Applicable From 01-Apr-2020) | 10,000 | 10 | 10 | 20 |
194LA - Immovable Property | 5,00,000 | 10 | 10 | 20 |
194LB - Income by way of interest from infrastructure debt fund (non-resident) | - | 5 | 5 | 20 |
194LBA - Certain income from units of a business trust to Residents | ||||
194LBA (a) - Certain Income in the form of interest from units of a business trust to a residential unit holder | - | 10 | 10 | 20 |
194LBA (b) - Certain Income in the form of dividend from units of a business trust to a resident unit holder | - | 10 | 10 | 20 |
194LBA - Certain income from units of a business trust to Non Resident :- | ||||
194LBA(1) - Payment of the nature referred to in Section 10(23FC)(a) | - | 5 | 5 | 20 |
194LBA (2) - Payment of the nature referred to in Section 10(23FC)(b) | - | 10 | 10 | 20 |
194LBA (3) - Payment of the nature referred to in section 10(23FCA) by business trust to unit holders | - | 35% - For Non Residents Company | 30 | 30/35 |
194LBB - Income in respect of units of investment fund. | - | 10% - For Residents | 10% - For Residents | 20/30/35 |
Sec 194LBC - Income in respect of investment in securitisation trust. | - | 10% - For Residents | 10 | 20/30/35 |
Sec 194LC - Income by way of interest by an Indian specified company to a non-resident / foreign company on foreign currency approved loan /long-term infrastructure bonds from outside India (applicable from July 1, 2012) | - | 5 or 4* or 9** | 5 or 4* or 9** | 20 |
194LD - Interest on certain bonds and govt. Securities (from 01-06-2013) | - | 5 | 5 | 20 |
194N - Payment of certain amounts in cash. | Withdrawal in Excess of Rs. 1 Cr. | 2 | 2 | 20 |
194NC - Payment of certain amounts in cash to co-operative societies not covered by first proviso | Withdrawal in Excess of Rs. 3 Cr. For Co-operative Society | 2 | 2 | 20 |
194NF - Payment of certain amounts in cash to non-filers | 1. Withdrawl Exceed 20 Lacs but does not exceed 1 Cr. | 2% - Exceed 20 Lacs but does not exceed 1 cr. | 2% - Exceed 20 Lacs but does not exceed 1 cr. | 20 |
194NFT - Payment of certain amount in cash to non-filers being co-operative societies | 1. Withdrawl Exceed 20 Lacs but does not exceed 3 Cr. | 2% - Exceed 20 Lacs but does not exceed 3 cr. | 2% - Exceed 20 Lacs but does not exceed 3 cr. | 20 |
194O - TDS on e-commerce participants (Applicable From 01-Oct-2020) | 500000 (Individual /HUF) | 1 (upto 30th Sep 2024) | 1 (upto 30th Sep 2024) | 5 |
194P - TDS in case of Specified Senior Citizen | - | Not Applicable | Rates in Force | |
194Q - TDS on Purchase of Goods exceeding Rs. 50 Lakhs (Applicable From 01-July-2021) | In Excess of Rs. 50 Lakhs | 0.1 | 0.1 | 5 |
194R - TDS in case any benefit or perquisite (arising from business or the exercise of a profession) is provided (Applicable From 01-July-2022) | 20000 | 10 | 10 | 20 |
First Proviso to sub-section (1) of section 194R- TDS in case any Benefits or perquisites of business or profession where such benefit is provided in kind or where part in cash is not sufficient to meet tax liability and tax required to be deducted is paid before such benefit is released (Applicable From 01-July-2022) | 20000 | 10 | 10 | 20 |
194S - TDS on payment on transfer of Virtual Digital Asset ( Applicable From 01-July-2022) | 10000 | 1 | 1 | 20 |
194T - Payment of salary, remuneration, commission, bonus or interest to a partner of firm | 20,000 | 10 | 10 | 20 |
Proviso to sub-section(1) of section 194S - TDS on Payment for transfer of virtual digital asset where payment is in kind or in exchange of another virtual digital asset and tax required to be deducted is paid before such payment is released (Applicable From 01-July-2022) | 10000 | 1 | 1 | 20 |
Sec 195 - Other Sums | - | Average rates as applicable | - | 20/30/40 |
Sec 196A - Foreign comp unit holder of MF | - | *20 or rate provided in the agreement, whichever is lower | 20 or rate provided in the agreement, whichever is lower | 20 |
Sec 196B - Income from units | - | 10 (upto 22nd Jul 2024) | 10 (upto 22nd Jul 2024) | 20 |
Sec 196C - Income from foreign currency bonds or GDR (including long-term capital gains on transfer of such bonds) (not being dividend) | - | 10 (upto 22nd Jul 2024) | 10 (upto 22nd Jul 2024) | 20 |
Sec 196D - Income of Foreign Institutional Investors/ Specified Fund :- | ||||
Sec 196D - Income of foreign institutional investors from securities under sub-section (1) | - | 20 | 20 | 20 |
Sec 196DA - Income of specified fund from securities referred to in clause (a) of sub-section (1) of section 115AD (other than interest income referred to in section 194LD) | - | 10 | 10 | 20 |
194IB - Payment of rent by certain individuals or Hindu undivided family | 50000 | 5 (upto 30th Sep 2024) | 5 (upto 30th Sep 2024) | 20 |
194M - Payment of certain sums by certain individuals or Hindu undivided family | 5000000 | 5 (upto 30th Sep 2024) | 5 (upto 30th Sep 2024) | 20 |
Nandhakumar & Sundaran
Chartered Accountants