TDS Rate Chart for FY 2024-25 - TDS is applicable on various payments like contractor payments, salary, commission etc. Check out TDS rate chart for FY 2024-25 & AY 2025-26.
Commission, Remuneration, Prize etc., on sale or lottery (Under section 194G) Payment of Commission or brokerage (Under section 194H) Rent (Under section 194I) Professional service (Under section 194J) Income from Units (Under section 194K) Payment of compensation on acquisition of certain imm...
194AInterest excluding interest on securities.ResidentRs 10000 if the interest is paid by the following: Banks; Co-operative Banks; or Post Office deposits. In any other case, Rs. 5000 will be the limit.10% 194BWinning from games like a crossword puzzle, card, lottery, etc.Any personThe...
The Lifetime Capital Gains Exemption (“LCGE”) allows every eligible individual to claim a deduction to their taxable income for capital gains realized on the disposition (or deemed disposition) of qualified small business corporation shares (“QSBCS”). In 2023, the exemption limit per ...
TDS stands for Tax Deducted at Source is tax levied on any income or profit on periodic intervals by the Indian authorities. Two parties involved in the Income Tax collection— Payer or Deductor, Payee or Deductee. TDS is applicable to certain payments— brokerage, salary, interest, professiona...
Salary (Sec 192):TDS if employee’s total taxable salary exceeds the basic exemption limit. TDS Rates & Key Sections TDS rates vary based on the type of income, including salaries, professional services, commissions, rent payments, and interest from investments. The applicable rate depends on th...
Generally, TDS or Tax Deducted at Source is applicable on salary, interest received, commission received etc. TDS is not applicable for all types of payments or on every person, there are various tax slabs according to which TDS is deducted from the taxpayer’s salary. Now that you know ...
30000 for each income in the FY (Not applicable to payment to the director). 10% 194LA Compensation on acquiring immovable property Resident Rs. 2,50,000 per FY 10% TDS Exemptions TDS is not deducted in the following situations: If the amount payment is made to Reserved Bank of India, ...
Professional payments less than Rs. 30,000 are not liable to TDS, except the director’s fees, where no such limit is applicable. 3. TDS onrentpayments under section 194I Small businesses and startups rent certain assets for their day-to-day operations.Section 194Iis applicable on any amou...
As mentioned earlier TDS is a certain percentage deducted at the time of payments of various kind such assalary, commission, rent, interest on dividends etc.The various payments for which TDS is deducted,Threshold limit(above which TDS is deducted), therateat which it is deducted for Resident...