Winnings from lotteries, crossword puzzles, card games and other games of any sortįor lottery, crossword puzzles games, etc threshold limit 10,000 for TDS shall continue but shall apply to aggregate winnings during a financial year. (Other Than Bank Deposit/Post Office Deposit/Banking Co-Society Deposit) Interest other than “Interest on securities” (Interest other than “Interest on securities” ) Interest on Bank Deposit/Post Office Deposit/Banking Co-Society Deposit It is proposed to omit clause ix of the proviso to Section 193 of the Act, thereby removing the exemption from TDS on payment of any income to a resident by way of interest on listed debentures with effect from 01-04-2023 It is proposed to omit the 2nd provision to Section 192A of the act so that in case of failure to furnishing PAN by the person relating to payment of accumulated balance due to him, tax will be deducted at 20% and not at MMR rate with effect from AY 2023-24 Payment of accumulated balance of provident fund which is taxable in the hands of an employee. New Tax Regime Slab Rate as opted by employee TDS Rate Chart for FY 2023-2024 (AY 2024-2025) including Budget 2023 Amendments for the period from to have been presented in Tabular Form along with explanation of Budget 2023 changes in respect of TDS.

In this article, various TDS rates applicable for FY 2023-2024 (AY 2024-2025) i.e. a higher limit of 3 crore for TDS on cash withdrawal is being provided to co-operative societies, removing the minimum threshold of 10,000/- for TDS relating to online gaming, reducing the TDS rate from 30 per cent to 20 per cent on taxable portion of EPF withdrawal in non-PAN cases. In Budget 2023, major changes have been proposed with respect to TDS viz. There are various sections in Income Tax Law, which specify different TDS rates, nature of payment & its threshold limits for TDS.

Tax Deduction at Source (TDS) is one of the important compliances for Income Tax Assessee. TDS Rate Chart for Financial Year (FY) 2023-2024 / Assessment Year (AY) 2024-2025 including Budget 2023 Amendments

Download App Builder 2023.24