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TDS F.Y.2023-24 (Non Residents and Foreign Companies)
| Section | Nature of Payment | TDS Rates (%) | |
| Non- resident | Foreign Company | ||
| Section 192 | Payment of Salary | Norma Non Resident (other than company) l Slab Rate | NA |
| Section 192A | Payment of accumulated balance of provident fund which is taxable in the hands of an employee. | 10 | NA |
| Section 194B | Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort | 30 | 30 |
| Section 194BA | Winning from Online Games | 30 | 30 |
| Section 194BB | Winnings from horse races | 30 | 30 |
| Section 194E | Payment to non-resident sportsmen/sports association | 20 | 20 |
| Section 194EE | Payment in respect of deposits under National Savings Scheme | 10 | NA |
| Section 194F | Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India | 20 | NA |
| Section 194G | Commission on sale of lottery tickets | 5 | 5 |
| Section 194LB | Payment of interest on infrastructure debt fund | 5 | 5 |
| Sec. 194LBA(2) |
Payment of the nature referred to in Section 10(23FC)(a)(Interest income of a business trust from SPV distribution to its unitholders) |
5 | 5 |
| Section 194LBA(2) | Payment of the nature referred to in Section 10(23FC)(b)(Dividend income of a business trust from SPV, in which it holds the entire share capital except the capital held by the government, and distribution to its unitholders) | 10 | 10 |
| Section 194LBA(3) | Payment of the nature referred to in section 10(23FCA) by business trust to unit holders(Rental/Leasing income payment of assets owned by the business trust to the unitholders ) | 30 | 40 |
| Section 194LBB | Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)]. | 30 | 40 |
| Section 194LBC | Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA) | 30 | 40 |
| Section 194LC | Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond)* | 5 / 4* | 5 or 4* |
| Section 194LC | Long Term Bond/ rupee Denominated Bonds issue on or after 01 July 2023 listed in SE located in IFSC * | 9 | 9 |
| * In case where interest is payable in respect of Long-term Bond or Rupee Denominated Bond listed on recognised stock exchange located in IFSC | |||
| Section 194LD | Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor | 5 | 5 |
| Section 194N | Aggregate Cash withdrawal from Bank / Co-operative bank / Post office etc. (* by persons who have not filed ITR for 3 previous years immediately preceding the previous year and the due date for filing ITR under section 139(1) has expired) | Cash withdrawal between Rs. 20 lakhs to Rs. 1 crore : 2% | Cash withdrawal between Rs. 20 lakhs to Rs. 1 crore : 2% |
| Cash withdrawal above Rs. 1 crore : 5% | Cash withdrawal above Rs. 1 crore : 5% | ||
| Section 194N | Aggregate Cash withdrawal from Bank, Post office etc. in case of others. | 2 | 2 |
| Section 195 | Payment of any other sum to a Non-resident | ||
| a) Income of foreign exchange assets payable to a Non-resident Indian Citizen | 20 | NA | |
| b) Income by way of long-term capital gains referred to in Section 115E | 10 | 10 | |
| c) Income by way of long-term capital gains referred to in section 112(1)(c) (iii) | 10 | 10 | |
| d) Income by way of long-term capital gains as referred to in Section 112A exceeding Rs. 1 Lakh | 10 | 10 | |
| e) Income by way of short-term capital gains referred to in Section 111A | 15 | 15 | |
| f) Any other long-term capital gains income [not being long-term capital gains referred to in clauses 10(33), 10(36) and 112A] | 20 | 20 | |
| g) Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC) | 20 | 20 | |
|
g)i) Income by way of dividend from a unit in IFSC. ii)Income by way of dividend other than above |
10 20 |
10 20 |
|
| h) Income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of Section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of Section 115A of the Income-tax Act, to a person resident in India | 20 | 20 | |
| i) Income by way of royalty [not being royalty of the nature referred to point h) above] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy | 20 |
50 (If Aggrement made after Feb 29.02.1964 but before 01.04.1974 |
|
| j) Income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy | 20 |
50 (If Aggrement made after Feb 29.02.1964 but before 01.04.1974 |
|
| k) Any other income | 30 | 40 | |
| Section 196A | Income in respect of units of non resident/Foreign company. | 20 | 20 |
| Section 196B | Income from units (including long-term capital gain on transfer of such units) to an offshore fund | 10 | 10 |
| Section 196C | Income from foreign currency bonds or GDR of an Indian company (including long-term capital gain on transfer of such bonds or GDR) | 10 | 10 |
| Section 196D(1) | Income of foreign Institutional Investors from securities (not being dividend or capital gain arising from such securities) | 20 | 20 |
| Section 196D(1A) | Interest income from securities of specified funds |
10 (Surcharge / Health edu. cess is Nil) |
10 (Surcharge / Health edu. cess is Nil) |
| Note: Tax shall be deducted at the rate provided under DTAA if same is lower than the existing TDS rate of 20%. | |||
The rate of TDS shall be increased by applicable surcharge and Health & Education cess as follows:-
| *Payment Made to- | Surcharge | Rate | Health and Education Cess (4.00%) |
| Non Resident (other than company) | > 50 Lakhs but upto 1 crore | 10% | Yes |
| > 1 Crore but upto 2 Crore | 15% | Yes | |
| > 2 crore but upto 5 crore | 25% | Yes | |
| > 5 crore |
37% (Old Regime) 25% (New Regime) |
Yes | |
| Non Resident Company | Between 1 crore and 10 crore | 2% | Yes |
| > 10 crore | 5% | Yes | |
| Non Resident (Co-operative society & Firms) | > 1 crore | 12% | Yes |
TDS F.Y.2022-23 (Non Residents and Foreign Companies)
|
Section |
Nature of Payment |
TDS Rates (in %) |
|
1. where the person is not resident in India* - |
||
|
Payment of Salary |
Normal Slab Rate |
|
|
Payment of accumulated balance of provident fund which is taxable in the hands of an employee. |
10 |
|
|
Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort |
30 |
|
|
Income by way of winnings from horse races |
30 |
|
|
Payment to non-resident sportsmen/sports association |
20 |
|
|
Payment in respect of deposits under National Savings Scheme |
10 |
|
|
Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India |
20 |
|
|
Commission, etc., on sale of lottery tickets |
5 |
|
|
Payment of interest on infrastructure debt fund |
5 |
|
|
Payment of the nature referred to in Section 10(23FC)(a) |
5 |
|
|
Payment of the nature referred to in Section 10(23FC)(b) |
10 |
|
|
Payment of the nature referred to in section 10(23FCA) by business trust to unit holders |
30 |
|
|
Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)]. |
30 |
|
|
Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA) |
30 |
|
|
Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond) |
5 or 4* * In case where interest is payable in respect of Long-term Bond or Rupee Denominated Bond listed on recognised stock exchange located in IFSC |
|
|
Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor |
5 |
|
|
Payment of any other sum to a Non-resident |
|
|
|
|
a) Income in respect of investment made by a Non-resident Indian Citizen |
20 |
|
|
b) Income by way of long-term capital gains referred to in Section 115E in case of a Non-resident Indian Citizen |
10 |
|
|
c) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-Section (1) of Section 112 |
10 |
|
|
d) Income by way of long-term capital gains as referred to in Section 112A |
10 |
|
|
e) Income by way of short-term capital gains referred to in Section 111A |
15 |
|
|
f) Any other income by way of long-term capital gains [not being long-term capital gains referred to in clauses 10(33), 10(36) and 112A |
20 |
|
|
g) Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC) |
20 |
|
|
h) Income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of Section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of Section 115A of the Income-tax Act, to a person resident in India |
10 |
|
|
i) Income by way of royalty [not being royalty of the nature referred to point h) above] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy |
10 |
|
|
j) Income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy |
10 |
|
|
k) Any other income |
30 |
|
Income from units (including long-term capital gain on transfer of such units) to an offshore fund |
10 |
|
|
Income from foreign currency bonds or GDR of an Indian company (including long-term capital gain on transfer of such bonds or GDR) |
10 |
|
|
Income of foreign Institutional Investors from securities (not being dividend or capital gain arising from such securities) Note: Tax shall be deducted at the rate provided under DTAA if same is lower than the existing TDS rate of 20%. |
20 |
|
|
2. In the case of a company, where the company is not a domestic company*- |
||
|
Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort |
30 |
|
|
Income by way of winnings from horse races |
30 |
|
|
Payment to non-resident sports association |
20 |
|
|
Commission, etc., on sale of lottery tickets |
5 |
|
|
Payment of interest on infrastructure debt fund |
5 |
|
|
Payment of the nature referred to in Section 10(23FC)(a) |
5 |
|
|
Payment of the nature referred to in Section 10(23FC)(b) |
10 |
|
|
Business trust shall deduct tax while distributing any income received from renting or leasing or letting out any real estate asset owned directly by it to its unit holders. |
40 |
|
|
Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)]. |
40 |
|
|
Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA) |
40 |
|
|
Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond) |
5 or 4* * In case where interest is payable in respect of Long-term Bond or Rupee Denominated Bond listed on recognised stock exchange located in IFSC |
|
|
Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor |
5 |
|
|
Payment of any other sum |
|
|
|
|
a) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-section (1) of Section 112 |
10 |
|
|
b) Income by way of long-term capital gains as referred to in Section 112A |
10 |
|
|
c) Income by way of short-term capital gains referred to in Section 111A |
15 |
|
|
d) Any other income by way of long-term capital gains [not being long-term capital gains referred to in clauses 10(33) , 10(36) and 112A |
20 |
|
|
e) Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC) |
20 |
|
|
f) Income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1976 where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of Section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of Section 115A of the Income-tax Act, to a person resident in India |
10 |
|
|
g) Income by way of royalty [not being royalty of the nature referred to in point f) above] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy— |
|
|
|
A. where the agreement is made after the 31st day of March, 1961 but before the 1st day of April, 1976 |
50 |
|
|
B. where the agreement is made after the 31st day of March, 1976 |
10 |
|
|
h) Income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy— |
|
|
|
A. where the agreement is made after the 29th day of February, 1964 but before the 1st day of April, 1976 |
50 |
|
|
B. where the agreement is made after the 31st day of March, 1976 |
10 |
|
|
i) Any other income |
40 |
|
Income from units (including long-term capital gain on transfer of such units) to an offshore fund |
10 |
|
|
Income from foreign currency bonds or GDR of an Indian company (including long-term capital gain on transfer of such bonds or GDR) |
10 |
|
|
Income of foreign Institutional Investors from securities (not being dividend or capital gain arising from such securities) Note: Tax shall be deducted at the rate provided under DTAA if same is lower than the existing TDS rate of 20%. |
20 |
|
__________________________
The rate of TDS shall be increased by applicable surcharge and Health & Education cess.
[As amended by Finance Act, 2022]