Ambalal Patel & Co.

Chartered Accountants

TDS / TCS Chart for FY 2023-24

RATES OF TAX DEDUCTED AT SOURCE (TDS)
PAYMENTS TO RESIDENT
Having PAN
No Return for last
Return Filed
ONE year
Co. / Firm Indivi./ Co. / Firm Indivi./ NO
Nature of Payment Threshold
Section / Co-Op. HUF / Co-Op. HUF PAN
(Section Description) (Rs.)
Soc. / Soc./
Local Local
Authority Authority
Rate (%) Rate (%) Rate (%) Rate (%) Rate (%)
20 or
192 Salary 2,50,000 NA Note - 1 NA Note - 1
Higher
194 Dividend 5,000 10 10 20 20 20
Interest other than interest on
securities
Non-Banking 5,000 10 10 20 20 20
194A
Banks
Senior Citizen 50,000 10 10 20 20 20
Other than Senior Citizen 40,000 10 10 20 20 20
Payment to Contractors
(Other than Transporter)
I. Payment to Contractor - Single
30,000 2 1 5 5 20
Transaction
II. Payment to Contractor -
1,00,000 2 1 5 5 20
Aggregate During the F.Y.
194C
Payment to Transporter
(See Note 2)
I. Transporter - Single
30,000 - - 5 5 20
Transaction
II. Transporter - Aggregate
1,00,000 - - 5 5 20
During the F.Y.
194D Insurance Commission 15,000 5 5 10 10 20
194H Commission / Brokerage 15,000 5 5 10 10 20
RENT
194I I. Land and Building 2,40,000 10 10 20 20 20
II. Plant / Machinery 2,40,000 2 2 5 5 20
On Payment for purchase of
immovable property other than
194IA non-taxable agriculture land if 50,00,000 1 1 1 1 20
Dastavej value OR stamp duty
value is more than
Payment of Rent by Individual /
50,000
194IB HUF other than covered under 5 5 5 5 20
per month
44AB
Payment of Consideration to Land
194IC Owners under Development No Limit 10 10 20 20 20
Agreement

(For Clients Only)

 Ambalal Patel & Co.
Chartered Accountants
Having PAN
No Return for last
Return Filed
ONE year
Co. / Firm Indivi./ Co. / Firm Indivi./ NO
Nature of Payment Threshold
Section / Co-Op. HUF / Co-Op. HUF PAN
(Section Description) (Rs.)
Soc. / Soc./ Local
Local Authority
Authority
Rate (%) Rate (%) Rate (%) Rate (%) Rate (%)
Professional Fees (incl. Royalty,
Software etc.)
I. Payment to Directors other
194J No Limit 10 10 20 20 20
than salary
II. Payment to Call Centres 30,000 2 2 5 5 20
III. Payment to Others 30,000 10 10 20 20 20
Payment by Ind or HUF (Non-Audit)
194M for Contract, Commission and 50,00,000 10 10 10 10 20
Professional fees
TDS on cash withdrawals by Bank,
Post office or Co-operative society
in banking fields
1 /*3
Crores(On
I. If return for last three years are ly in case
2 2 2 2 20
194N filed by customer of Co-op
society
Customer)
20 Lacs to
2 2 2 2 20
II. If returns are Not Filed by 1 Crores
customer Above
5 5 5 5 20
1 Crores
194O TDS on E-commerce participants 5,00,000 1 1 5 5 5
Purchase of Goods - buyer having
194Q 50,00,000 0.1 0.1 5 5 5
turnover above Rs.10 crore
TDS on benefit or perquisites of a
194R business or profession (w.e.f. 20,000 10 10 20 20 20
01.07.2022)
TDS on payment for Virtual Digital
Asset (w.e.f. 01.07.2022)
Payer is Individual / HUF having no
Income under the head PGBP OR
194S Payer is Individual / HUF having T/o 50,000 1 1 5 5 20
of Preceding FY less than Rs.1
Crores / Rs.50 Lacs
Other Payers 10,000 1 1 5 5 20

Note 1. In case of Salary, tax is deductible at Average Rate as applicable + Surchage is applicable @ 10% if income
is Rs.50 Lacs to 1 Cr , 15% if income is Rs.1 Cr to 2 Cr , 25% if income is Rs.2 Cr to 5 Cr and 37% if income is
above Rs.5 Cr + 4% Cess.

Note 2. In case of payment to Transporter, Declaration mentioning that he is not holding more than 10 trucks at
any time during the year is required to be taken. Otherwise TDS is required to be deducted at the
applicable rates

(For Clients Only)

 Ambalal Patel & Co.
Chartered Accountants

RATES OF TAX COLLECTED AT SOURCE (TCS)

Having PAN
No Return for last
Return Filed
ONE year
Co. / Firm Indivi./ Co. / Firm Indivi./ NO
Nature of Payment Threshold
Section / Co-Op. HUF / Co-Op. HUF PAN
(Section Description) (Rs.)
Soc. / Soc. /
Local Local
Authority Authority
Rate (%) Rate (%) Rate (%) Rate (%) Rate (%)
206C (1) Scrap No Limit 1 1 5 5 5
206C (1F) Sale of Motor Vehicle 10,00,000 1 1 5 5 5
Foreign remittance for
206C (1G) Education – Not out of edu. 7,00,000 5 5 10 10 5
Loan
Foreign remittance for
206C (1G) 7,00,000 0.5 0.5 10 10 5
Education –out of edu. Loan
Overseas Tour Package/ Foreign
206C (1G) No Limit 20 20 20 20 20
remittance other than above
Sale of Goods - Seller having
206C (1H) 50,00,000 0.1 0.1 5 5 5
turnover above Rs. 10 crore
Provisions regarding Form 15G / 15H
Section Nature of RECEIPT of Income by Resident Who can give Condition for giving for Form 15G / 15H
Interest Income
Rent Income Other than Company Can be given only if Estimated Total
197A
Dividend Income or Firm Income of the year will be Nil.
Insurance Commission

Note 1. In case of Resident Individual, Form 15H is applicable if age is of 60 years or more, otherwise Form
15G.
Note 2. In case tax is Deducted/Collected Late then interest @ 1% p.m. or part thereof is to be paid from
the due date of deduction/Collection to date of Deduction/Collection.
Note 3. In case tax is deducted/collected but Paid Late then interest @ 1.5% p.m. or part thereof is to be
paid from the date of deduction/collection to date of payment.
Note 4. Late fees of Rs.200/- per day is payable if TDS/TCS returns is filed after due date.

(For Clients Only)

 Ambalal Patel & Co.
Chartered Accountants
DUE DATES FOR TDS/TCS
Due Dates
Months
Payment TDS Return Filling TCS Return/15G-H Filling Issue of Certificates
April – 2023 07.05.2023 30.07.2023 (TCS)
May – 2023 07.06.2023 31st July, 2023 15th July, 2023 15.08.2023 (TDS)
June – 2023 07.07.2023 (Other than Salary)
July – 2023 07.08.2023 30.10.2023 (TCS)
st th
Aug – 2023 07.09.2023 31 Oct, 2023 15 Oct, 2023 15.11.2023 (TDS)
Sept – 2023 07.10.2023 (Other than Salary)
Oct – 2023 07.11.2023 30.01.2024 (TCS)
Nov – 2023 07.12.2023 31st Jan, 2024 15th Jan, 2024 15.02.2024 (TDS)
Dec – 2023 07.01.2024 (Other than Salary)
Jan – 2024 07.02.2024
30.05.2024 (TCS)
Feb – 2024 07.03.2024
31st May, 2024 15th May, 2024 15.06.2024 (TDS)
07.04.2024 (TCS)
Mar – 2024 (Other than Salary & Salary)
30.04.2024 (TDS)

(For Clients Only)