TDS Rate Chart For FY 2024-25 Excel/PDF Download(AY 2025-26)
TDS Rate Chart for FY 2024-25 in Excel/PDF Download: Every year millions of people search the internet for a new TDS Rate Chart applicable in India for the current financial year. This shows that people are no longer concerned with the income tax slabs only, they are even aware of the applicable TDS rates for various Income Tax Sections.
Regular changes are being taken place both in TDS Rate Chart and Income Tax Laws. Therefore it is very much important for you especially if you are engaged with finance-related jobs to get updated with each type of TDS laws for payment where TDS is applicable.
This post will help you in knowing the latest TDS Rate Chart FY 2024-25 and AY 2025-26. You will find a synopsis of the latest TDS Rate Chart FY 2024-25 along with a little analysis of each section for easy understanding.
However, before knowing the latest TDS Chart for FY 2024-25 in Excel Download let us see the below simple search questions by the users.
TDS Rate Chart For FY 2024-25 Excel/PDF Download
Look, the TDS rate is not fixed for any particular type of item or payment. It varies from item to item and so does the TDS rates. However, there are certain items of payments where there are no TDS rates, lower TDS rates and higher TDS rates, which you may find in the below TDS Rate Chart FY 2024-25 table.
What are the TDS guidelines for 2024?
The Govt. of India has made many TDS rule changes w.e.f 1st April 2024 to include more items of payments within its tax net. TDS net is getting widened day by day which you can see below.
Finance Budget 2024 has not proposed any substantial changes to the existing TDS rules to provide more clarity and transparency in taxation matters may be due to interim budget. We will have to wait after the end of election for the new full budget to take place by the new elected Government.
| Nature of Payment | Section | Annual Threshold Limit (₹) | TDS Rates FY 2024-25 (Individual/ HUF) (%) | TDS Rates FY 2024-25 (Company)(%) |
| Salaries(New & Old Tax Regime) | 192 | No Limit | Slab Rate | N.A |
| Premature withdrawal from EPF A/C before 5 Years completion time as the subscriber | 192A | ₹50,000 | 10 | N.A |
| Payment of Interest on Securities by company | 193 | ₹10,000 | 10 | 10 |
| Payment of Dividend by a Company | 194 | ₹5,000 | 10 | 10 |
| Payment of Interest by Bank to Non-Sr. Citizen(below 60 Years of age) | 194A | ₹40,000 | 10 | N.A |
| Payment of Interest by Bank to Sr. Citizen | 194A | ₹50,000 | 10 | N.A |
| Interest other than on Securities(Not covered by Section 193) | 194A | ₹5,000 | 10 | 10 |
| Winning from Lotteries by a person | 194B | ₹10,000 | 30 | 30 |
| Winnings from online games | 194BA | No Limit | 30 | 30 |
| Winning from Horse Race by a person | 194BB | ₹10,000 | 30 | 30 |
| Winning from Lotteries/crossword puzzles-made in kind/cash not suffice to meet the tax liability and paid before | 194BP | ₹10,000 | 30 | 30 |
| Payment to Contractors (Non-Company Deductee) | 194C | ₹30,000 in a single bill or ₹1 Lakh aggregate bills during the year | 1 | 2 |
| Payment to Contractors (Company Deductee) | 194C | ₹30,000 in a single bill or ₹1 Lakh aggregate bills during the year | 1 | 2 |
| Payment to Transporter not covered U/S 44AE where the Transporter owns more than 10 goods carriages | 194C | ₹30,000 in a single bill or ₹75,000 aggregate bills during the year | 1 | 2 |
| Payment of Insurance Commission to agents by Insurance Company | 194D | ₹15,000 | 5 | 10 |
| Payment in respect of maturity of Life Insurance Policy by Life Insurance Company(Not exempted U/S 10(10D) | 194DA | ₹1 Lakh | 5 | 5 |
| Payment to NRI sportsman or association by any person or organization | 194E | No Limit | 20 | 20 |
| Payment out of deposit under National Saving Scheme (NSS) | 194EE | ₹2,500 | 10 | 10 |
| Payment for the repurchase of units by UTI or other Mutual Fund | 194F | No Limit | 20 | 20 |
| Payment of Lottery Commission | 194G | ₹15,000 | 5 | 5 |
| Payment of commission or Brokerage | 194H | ₹15,000 | 5 | 5 |
| Payment for Rent of Plant / Machinery / Equipment | 194I(a) | ₹2.40 Lakh | 2 | 2n |
| Payment for Rent of Land Building & Furniture | 194I(b) | ₹2.40 Lakh | 10 | 10 |
| Payment made on account of transfer of immovable property other than agriculture land | 194IA | ₹50 Lakh | 1 | 1 |
| Payment of Rent by Individuals or HUF not liable to Tax Audit and such rent is not covered U/S 194I | 194IB | ₹50,000 (p.m) | 5 | N.A |
| Payment of Professional Fees to Call Centers | 194J(a) | ₹30,000 | 2 | 2 |
| Payment of Professional Fees(other than call Centers) | 194J(b) | ₹30,000 | 10 | 10 |
| Payment of dividend by mutual Funds | 194K | ₹5,000 | 10 | 10 |
| Payment of compensation for compulsory acquisition of immovable property(other than agricultural land) | 194LA | ₹2.50Lakh | 10 | 10 |
| Certain payments such as Commission, Brokerage, Contractual Fees, Professional Fees by Individual/HUF (not liable to deduct TDS U/S 194C, 194H, and 194J) | 194M | ₹50 Lakh | 5 | 5 |
| Cash withdrawal in excess of 1 crore during the previous year from 1 or more account with a bank or co-operative society (wef 01.09.2019) | 194N | ₹1 Crore | 2 | 2 |
| Payment or Credit of amount by the e-commerce operator to the e-commerce Participant | 194O | ₹5 Lakh | 1% | 1% |
| TDS on Payment of pension or interest to Senior citizens more than 75 years age | 194P | Basic Exemption Limit | Slab Rate | N.A |
| TDS on Purchase of Goods exceeding Rs. 50 Lakhs (Applicable From 01.07.21) | 194Q | In Excess of ₹ 50 Lakhs | 0.1 | 0.1 |
| Benefits or perquisites of business or profession | 194R | ₹20,000 | 10 | 10 |
| 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 | 194RP | ₹20,000 | 10 | 10 |
| Payment of consideration for transfer of virtual digital asset(VDA) | 194S | ₹50,000 for Specified Person ₹10,000 for Others | 1 1 | 1 1 |
TDS Rate Chart For FY 2024-25 Excel Download
TDS Rate Chart For FY 2024-25 PDF Download
TDS Rate Chart FY 2024-25 Detailed Analysis
1. Section 192-TDS Rates on Salary Income:
There are no fixed TDS rates for income from salary. TDS is deducted only when yearly tax liability exceeds ₹10,000/-. Therefore tax is deducted accordingly and no fixed rate of TDS is there. However, the tax liability will be deducted on the basis of the Old and New Tax Regime as declared by the employee.
2. Section 192A-TDS Rate FY 2022-23 on premature withdrawal from EPF
If an employee wishes to withdraw more than ₹50,000/- from his accumulated EPF balance before completion of 5 years prematurely, this withdrawal is liable to TDS @10%.
This 5 years period would be considered from the date of joining of the EPF till placement of withdrawal request. However, in case the subscribe fails to submit his PAN details, TDS will be deducted @20% on the total amount withdrawn.
You may like to read the below post:
3. Section 193- TDS Rate on Payment of Interest on Securities
TDS @10% is to be deducted for the payment of interest on securities by a company to a resident only. However, this threshold limit will be ₹5,000 for interest paid on debentures. The threshold limit for interest on 7.75% GOI Savings (Taxable) Bonds 2018 is ₹10,000.
4. Section 194-TDS Rates on payment of Dividend
As per Section 194, TDS @10% is to be deducted for the payment of Dividend by a Company to a resident individual/HUF, if such dividend payment exceeds ₹5,000 in a year and on which Dividend Distribution Tax(DDT) is not paid. This excludes dividend as referred to Section 115O by a Company.
5. Section 194A- TDS Rates on payment of Interest by Bank to Non-Sr. Citizen
As per Section 194A, TDS @10% has to be deducted for the payment of interest to resident Indians below 60 years of age(Non-Sr. Citizen), if such interest income exceeds ₹40,000 in a year. This interest income includes interest from savings accounts only. Other interest income from Fixed Deposits, Time Deposits and Company FDs are taxable as the applicable tax slabs.
5A. Section 194A- TDS Rate Chart FY 2024-25 on payment of Interest by Bank to Sr. Citizen
As per Section 194A, TDS @10% has to be deducted for the payment of interest to resident Sr. Citizen, if such interest income exceeds ₹50,000 in a year. This interest income includes all the interest income earned by the Sr. Citizens except interest income from Company Deposits.
Therefore, the interest income for Sr. Citizens is not limited to savings accounts interests only unlike Non- Sr. Citizens.
5A. Section 194A- TDS Rate Chart for FY 2024-25 on Interest on Other than Securities not covered by Section 193
As per Section 194A, TDS @10% has to be deducted for the payment of interest on Other than Securities not covered by Section 193, if such interest exceeds ₹5,000 during the year.
6. Section 194B- TDS Rates FY 2024-25 on Winning from Lottery
As per Section 194B, TDS @30% is to be deducted from a resident Indian on any income such as winning from lottery, card games, crossword puzzles, and other alike games if such income exceeds ₹10,000 in a year.
7. Section 194BB- TDS Rates on Winning from Horse Races
As per Section 194BB, TDS @30% is to be deducted from a resident Indian on income from winning from horse races if such income exceeds ₹10,000 in a year.
8. Section 194C- TDS Rates on Payment to Contractors (Non-Company deductee)
As per Section 194C, TDS @1% is to be deducted for making any payment to a contractor(Non-company deductee such as Individual/HUF) only if the payment exceeds ₹30,000 in a single bill or ₹1 Lakh in aggregate bills during the year.
9. Section 194C- TDS Rates on Payment to Contractors (Company deductee)
As per Section 194C, TDS @2% is to be deducted for making any payment to a contractor(Company deductee such as Company, A.O.P, B.O.I) only if the payment exceeds ₹30,000 in a single bill or ₹1 Lakh in aggregate bills during the year.
10. Section 194C- TDS Rate FY 2024-25 on Payment to Transporter
TDS @1% is to be deducted on Payment to Transporter not covered U/S 44AE, only if the payment exceeds ₹30,000 in a single bill or ₹75,000 in aggregate bills during the year, where the Transporter owns more than 10 goods carriages. TDS rate will be @2% if the payee is a Company. However, no TDS should be deducted if the payee owns less than 10 goods carriages.
11. Section 194D- TDS on payment of insurance commission to agents by an insurance company
As per Section 194D, TDS @5% is to be deducted by an insurance company on payment of insurance commission to its agents only if such commission payment exceeds ₹15,000 in a year.
12. Section 194DA- TDS on payment of maturity of Life Insurance Policy
section 194DA is applicable to those life insurance policies where such payments are not exempted Under Section 10(10D). This is not applicable for the deferred pension plans as well.
Therefore, in simple words, Section 194DA is not applicable where any amount is received U/S 10(10D), which is completely tax-free. So, one has to keep in mind the following important aspect:
No TDS to be deducted for any sum received from an insurance company if the following conditions are satisfied:
- Maturity proceeds from a life insurance policy after the maturity and;
- Death benefits received after the demise of the policy-holder, by his nominees;
- The annual premium is not more than 10% of the sum assured for the policy taken on or after 01.04.2012 or is not more than 20% for a policy taken before 01.04.2012.
Therefore, in the case of other receipts from the insurance company, as per Section 194DA, TDS @5% is to be deducted when such payment exceeds ₹1,00,000 in a year.
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