Myitronline News Myitronline News

Navigate the World of Finance and Money with Ease! is a One-Stop solution for all legal & Financial blogs & updates! Empowering You with Knowledge to Make Informed Decisions! Stay Ahead for the latest legal and financial with!

An exclusive national news network with a Delhi base is labeled Myitronlinenews. Its English-language channels target the legal and financial sectors. To make legal and financial services simple to understand for our readership & viewers is our objective.

Patparganj, Delhi (HQ)

305 3RD FLOOR PLOT NO 51, Hasanpur, I.P.Extension, 110092
Myitronline Global Services
Income Tax Slabs

TDS Rate Chart for Financial Year (FY) 2023-2024 /Assessment Year (AY) 2024-2025

Tax dedication at the source (TDS) is one of the essential compliance for the income taxpayer. There are different types of sections in income tax laws, which specify different TDS rates, threshold limits for TDS, and the nature of the payment.


Section Of IT act Nature of Payment Existing Rate of TDS Reduced Rate:

1. TDS Reduced Rate 

Form 14/05/20 to 31/03/21 1193 Interest on Securities10% 7.50% 2194 Dividend 10% 7.50% 3194 AInterest other than interest on securities 10% 7.50% 4194 CPayment of Contract or and sub contractors 1% (individual / HUF) 2%   (others)0.75% (individual/HUF) 1.5% (others) 5194 DInsurance Commission 5% 3.75% 6194 DAPayment in respect of life insurance policy 5% 3.75% 7194 EEPayments in respect of deposits under National Savings Scheme10% 7.50% 8194 FPayments on account of re-purchase of Units by Mutual Funds or UTI 20% 15% 9194 GCommission , prize etc.

on sale of lottery tickets 5% 3.75% 10194 HCommission or brokerage 5% 3.75% 11194 I(a)Rent for plant and machinery 2% 1.5% 12194 I(b)Rent for immovable property 10% 7.5% 13194 IAPayment for acquisition of immovable property 1% 0.75% 14194 IBPayment of rent by individual or HUF 5% 3.75%15194 ICPayment for Joint Development Agreements 10% 7.5% 16194 JFee for Professional or Technical Services (FTS), Royalty, etc.

2% (FTS, certain royalties, call centre) 10% (others) 1.5% (FTS, certain royalties, call centre) 7.5% (others) 17194 KPayment of dividend by Mutual Funds10% 7.5% 18194 LAPayment of Compensation on acquisition of immovable property 10% 7.5% 19194 LBA (1) Payment of income by Business trust 10% 7.5% 20194 LBB (i) Payment of income by Investment fund 10% 7.5% 21194 LBC (1) Income by securitisation trust 25% (Individual / HUF) 30% (Others) 18.75% (Individual/HUF) 22.5% (Others) 22194 MPayment to commission , brokerage etc. by Individual and HUF 05% 3.75% 23194 OTDS on e-commerce participants 1% (w.e.f. 1.10.2020 ) 0.75%.


2.  TDS on amount Credited

Therefore, Tax Deduction at Source (TDS) on the amount paid or credited during the period from14th May,2020 to 31st March,2021 shall be deducted at the reduced rates specified in the table.

3. TDS or TCS rate deduction 

It is further stated that there shall be no reduction in rates of Tax Deduction at Source (TDS) or  Tax Collection at Source (TCS), where the tax is required to be deducted or collected at higher rate due to non furnishing of PAN / Aadhaar.  Eample, if the tax is required to be deducted at 20% under section 206AA of the Income-tax Act due to non-furnishing of PAN / Aadhaar, it shall be deducted at the rate of 20% and not at the rate of 15%.

4. Amendments 

Legislative amendments in this regard shall be proposed in due course.


Also, Read: "Tax benefits on Health Insurance Importance & Required Documents".


Income tax filing deadline is right around the corner. If you haven’t filed yet, do it now for FREE on Myitronline! Avoid last minute rush and file your tax return today on MYITRONLINE in Just 5 mins.(

If you are looking for eCA assistance to file your income tax return/ GST, you can opt for MYITRONLINE eCA assisted plan starting

Upload Form-16

Upload Salary Individual Form-16

If you have any questions with filing your tax return, please reply to this mail. OR call 9971055886.

Note-All the aforementioned information in the article is taken from authentic resources and has been published after moderation. Any change in the information other than fact must be believed as a human error. For queries mail us at

Krishna Gopal Varshney

An editor at Myitronlinenews
View Articles

Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.

Leave a reply

Your email address will not be published. Required fields are marked *

Share this article

News Offers