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Interest income from a loan or long-term bonds in the foreign currency issued by a business trust or an Indian organisation Interest earnings from infrastructure debt funds Income from MF units as per Section 10 clause 23D from a company mentioned in Section 10 clause 35Įarnings from securities by Foreign Institutional Investors, apart from dividend income or capital gains Interest income from foreign-currency debt instruments issued by the Indian Government or an Indian Concern (other than income as per Section 194LC or 194LB).Long-term Capital Gains not mentioned in Section 10 clauses 33, 36, and 38.Long-term Capital Gains as per Section 193 sub-section 1 clause c sub-clause iii.Short-term capital gains as per Section 111A.Long-term capital gains as per Section 115E.Yields from an Indian organisation’s foreign-currency funds Yields from units transferred to an offshore fund, including long-term capital gains Income from repurchasing of units by Mutual Fund or UTIĮarnings from National Savings Scheme deposits The TDS interest rates for non-residents of India are enumerated in the table below. The Indian Finance Ministry implemented new TDS rates for resident individuals, which are applicable for 2022-24 to provide financial respite in light of the recent economic crisis. More than Rs.20 lakh but up to Rs.1 crore.Rent income by an individual or HUF under Joint Development Agreements if it exceeds Rs.50,000 per month Rent earnings from a HUF or individual apart from the ones covered under Section 194-IĬompensatory income against the sale of specific immovable propertyĮarnings from HUFs or Individuals (up to Rs.50 lakh) Yields from lotteries, card games, crossword puzzles, etc. Income in the form of insurance commissionĮarning from the sale of any immovable property apart from agricultural land Note: TDS does not apply to such interest income if it does not exceed Rs.40,000, and Rs.50,000 for general and senior citizens respectively, in a given Financial Year.
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Professional services, not sharing patent, know-how, copyright, etc.Income from deposits made under the National Savings SchemeĪmount received against a life insurance policyĬommission earned by selling lottery ticketsĭividend income except earnings mentioned in Section 115-O Central or State Government issued debenture.Issued by a local government authority or corporation.Yields from repurchasing of any unit by Unit Trust of India or Mutual Fund TDS Rates for FY 2022-23 (AY 2023-24) TDS Rate Chart Particulars Any individual receiving income is required to deduct tax at source and remit TDS by the due date. The tables below show the various TDS percentage that applies to resident and non-resident payments, as well as the TDS deduction rate on domestic and foreign corporations in India. Organisations other than domestic companies.In India, TDS applies to four types of persons – The TDS rates thus levied also vary across income varieties and the person taxed. Tax Deducted at Source applies to an array of income kinds, like salary, interest accrued on term deposits, interest earned on securities, etc. The primary objective of TDS is to reduce incidences of tax evasion by ensuring it’s deducted at the source of income generation rather than at a future date. By means of it, the government collects tax from a person’s income at the time it is generated. TDS or Tax Deducted at Source is a critical tool for the purpose of Income Tax collection.