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Section
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Nature of Payment
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Threshold Limit of Payment
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Rates
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Basic Exemption Limit
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For Old regime
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For New regime
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192
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Income from Salary
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Super Senior Citizen (80 Years or more)
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Rs. 5,00,000
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Rs. 3,00,000
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Average rate of Tax + Health & Education Cess (Surcharge if Salary >
50 Lacs)
TDS as per Tax Regime selected by employee. If not selected, TDS deduction as per
New Regime.
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Senior Citizen (60 Years or more)
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Rs. 3,00,000
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Rs. 3,00,000
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Others
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Rs. 2,50,000
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Rs. 3,00,000
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192A
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Premature Withdrawal from EPF
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Rs. 50,000
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PAN available : 10%
PAN Not available : 20%
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193
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Interest on Securities (including Listed Debentures)
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Rs. 5,000
(Rs. 10,000 on 8% Savings (Taxable) Bonds, 2003)
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10%
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194
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Dividend
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Rs. 5,000
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10%
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194A
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*Interest (Other than on Securities) by a Banking Company/ Post Office
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Senior citizen : Rs. 50,000 p.a.
Others : Rs. 40,000 p.a.
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10%
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194A
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Interest (Other than on Securities) by others
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Rs. 5,000 p.a.
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10%
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194B
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Winning from Lotteries & Cross Word Puzzles, Card games and other games on any
sort (Other than winning from online Games)
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Rs. 10,000 p.a.
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30%
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194BA
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Winning From Online Games
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No Limit
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30%
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194BB
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Winnings from horse races
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Rs. 10,000 p.a.
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30%
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194C
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*Payment to contractor/sub-contractor
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Rs.30,000 Single Transaction (or)
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Individual/HUF : 1%
Others : 2%
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Rs. 1,00,000 Aggregate of transactions
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194D
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Insurance Commision
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Rs. 15,000
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Other than Company : 5%
(Reduced rate of 2% shall be wef 1.4.25 onwards)
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Domestic Company:10%
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194DA
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Payment under life insurance policy (The tax shall be deducted on the amount of
income comprised in insurance pay-out)
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Rs.1,00,000 p.a.
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Upto 30.9.24 : 5%
Wef 1.10.24 : 2%
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194EE
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Payment under National Savings Scheme
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Rs.2,500
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10%
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| 194F | Payment on account of repurchase of units by Mutual Fund or Unit Trust of India | No Limit | | Upto 30.9.24 : 20%
Wef 1.10.24 : NA |
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194G
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Commission on Sale of Lottery Tickets
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Rs. 15,000
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Upto 30.9.24 : 5%
Wef 1.10.24 : 2%
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194H
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*Commission/Brokerage
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Rs. 15,000 p.a.
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Upto 30.9.24 : 5%
Wef 1.10.24 : 2%
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194-I(a)
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*Rent of Plant / Machinery
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Rs. 2,40,000 p.a.
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2%
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194-I(b)
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*Rent of Land or building or furniture or fitting
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Rs. 2,40,000 p.a.
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10%
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194-IA
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Payment or transfer of immovable property (other than rural agriculture land)
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Rs. 50,00,000 & above
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1%
(on the higher of amount of consideration or the stamp duty value)
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194-IB
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Rent payable by an individual or HUF not liable to tax audit
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Rs.50,000 per month
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Upto 30.9.24 : 5%
Wef 1.10.24 : 2%
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194-IC
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Payment of monetary consideration under Joint Development Agreements to Resident
individual/HUF
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No Limit
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10%
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194J
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*Fees for Professional / Technical Services / Royalty / Remuneration to director
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Rs. 30,000 p.a. (Rs. 0 in case of Directors)
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2% (For Call Centre, Fees for Technical Services & Royalty in case of cinematograh
films)
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10% (For Professional Services, Director remuneration and other royelty)
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194K
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Income in respect of units of Mutual funds or specified company
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Rs. 5,000
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10%
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194LA
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Compensation on acquisition of immovable Property
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Rs. 2,50,000
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10%
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194LBA(1)
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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 resident unit holders.
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No Limit
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10%
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194LBB
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Payment in respect of units of Investment funds u/s 115UB [other than income
which is exempt under Section 10(23FBB)]
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No Limit
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10%
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194LBC(1)
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Income in respect of investment made in a securitisation trust
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No Limit
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Individual or HUF: 25%
Other : 30%
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194M
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Payment to resident contractors and professionals or by way of commission / brokerage
(other than those who covered u/s 194C or 194J) by individual/HUF not liable for
tax audit.
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Rs. 50 lacs
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Upto 30.9.24 : 5%
Wef 1.10.24 : 2%
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194N
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Aggregate Cash withdrawal from Bank / Co-operative bank / Post office etc.
(* by persons who have not filed ITR for 3 previous years immediately preceding
the previous year and the due date for filing ITR under section 139(1) has expired)
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Rs. 20 lakhs
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Cash withdrawal between Rs. 20 lakhs to Rs. 1 crore : 2%
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Cash withdrawal above Rs. 1 crore : 5%
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194N
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Aggregate Cash withdrawal from Bank, Post office etc. in case of others.
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Rs. 1 crore
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2%
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194-O
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Payment by E-commerce operator to e-commerce participants
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Individual /HUF : Rs. 5 Lakh
Others : No limit.
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Upto 30.9.24 : 1.%
Wef 1.10.24 : 0.10.%
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194P
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TDS deduction by bank in case of specified Senior Citizen above 75 Years drawing
pension
(NOTE-1)
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Rs. 3,00,000
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As per Rates in force
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194Q
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Payment for purchase of goods
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50 Lakhs
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0.1% (on the value above Rs. 50 lakhs)
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194R
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Benefits or perquisites arising from business or profession
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Rs. 20, 000
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10%
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194S
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Payment of Consideration for Transfer of Virtual Digital Assets of crypto currency
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By Specified Persons(Not having income PGBP or less than 1Cr/50 lakh) : Rs. 50,000
By Others : Rs. 10,000
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1%
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| 194T | TDS on payment of salary, remuneration, interest, bonus or commission by partnership firm to partners for aggregate amounts more than Rs. 20,000 in the financial year | Rs. 20,000 |