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What is TDs rate chart for FY 2023-24 (Ay 2024-25)?
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What is TDs rate chart?
Feb 11, 2023 · In this article, various TDS rates applicable for FY 2023-2024 (AY 2024-2025) i.e. for the period from 01.04.2023 to 31.03.2024 have been presented in Tabular Form along with explanation of Budget 2023 changes in respect of TDS.
- TDS Rate Chart for FY 2023-24 / AY 2024-25 – Updated - Tax Guru
Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the...
- TDS Rate Chart for FY 2023-24 / AY 2024-25 – Updated - Tax Guru
- Section 194Ba – TDS on Online Gaming
- Section 196A – Reduced TDS Rate as Per Tax Treaty
- Section 192A – Relaxation For Employees Without Pan
- Section 193 – Tax Deduction on Interest from Specified Securities
- Section 194N – Increased TDS Threshold For Cooperative Societies
- Section 194R – Clarification on TDS Deductions For Benefits Or Perquisites
- New Section 155(20) – Credit of TDS in The Year of Income Reporting
Starting from April 1, 2023, TDS will be deducted on income earned from online gaming. If you win money, the online gaming platform giving you the winnings will deduct 30% TDS on the net winnings. TDS will be deducted when you withdraw the winnings from your account. In case you do not withdraw the winnings by the end of the financial year, then th...
When a non-resident earned income from mutual funds in India, the TDS rate was 20%. However, from April 1, 2023, the non-resident can choose to pay a lower tax rate given in the tax treaty by providing a tax residency certificate.
Starting from April 1, 2023, if an employee does not furnish PAN (Permanent Account Number), they will receive their provident fund balance after a 20% tax deduction. Earlier, tax was deducted at maximum marginal rate (MMR) which would be as high as 42.74%.
Before April 1, 2023, individuals often forgot to report the interest income they earned from specified securities in their income tax returns because TDS was not deducted. Now, starting from April 1, 2023, tax will be deducted from the interest earned on listed securities in dematerialized form. This change will ensure accurate reporting of income...
From April 1, 2023, if a co-operative society withdraws cash, TDS will be applicable when the withdrawal amount exceeds Rs. 3 Crore. This threshold was previously Rs. 1 Crore.
In the 2023 budget, it was clarified that TDS should be deducted on benefits or perquisites, whether they are in cash, in kind, or a combination of both. This rule also applies to Section 28(iv).
If a taxpayer reports income on an accrual basis in one year but the tax on that income is deducted in the following financial year, it can cause mismatch with tax credits. From October 1, 2023, taxpayers can apply for the tax credit in the financial year in which the income is declared in their tax return. The application must be made within two y...
Aug 23, 2023 · This article presents a tabular representation of the various TDS rates applicable for the Financial Year (FY) 2023-2024 or Assessment Year (AY) 2024-2025, which spans from 01.04.2023 to 31.03.2024. Additionally, it also explains the changes proposed in Budget 2023 with respect to TDS.
- Ishita Ramani
TDS rate chart for FY 2023-24 (AY 2024-25) 1% (TDS is to be deducted at the rate of 1% of such sum paid or credited to the resident or the stamp duty value of such property, whichever is higher.)
Jul 25, 2023 · Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Easy-to-understand guide.
Jan 10, 2024 · Section 192A – Relaxation for Employees without PAN: Employers can now deduct TDS at a higher rate of 20% (instead of 30%) from employees who do not have a PAN. This provides some relief to employees who are in the process of obtaining a PAN. Section 193 – Tax Deduction on Interest from Specified Securities:
Aug 29, 2024 · Q - What are the changes in TDS rates for FY 2023 24? Effective from July 1, 2023, the Tax Collected at Source (TCS) rate shall not exceed 20% if the collectee fails to furnish their PAN to the collector or if they are non-filers.
