Updated TDS rates for AY 2025–2026 and FY 2024–2025: In force as of October 1, 2024
With effect from October 1, 2024, the updated TDS rates for FY 2024–25 and AY 2025–26 have been released. This blog discusses the effects on people and businesses and offers a comprehensive graphic of the updated TDS rates. To guarantee compliance with tax laws and to capitalize on the advantages provided by the new rates, it is imperative that individuals and corporations comprehend the revised TDS rates and their ramifications.
Updated TDS Rates for AY 2025–2026 and FY 2024–2025: In Force as of October 1, 2024
The updated TDS rates for the fiscal year 2024–2025 and the academic year 2025–2026 have been revealed and will take effect on October 1, 2024. The full chart of the updated TDS rates may be found here:
Section 206AB: TDS on Non-Filers
| Slab Rate | Existing Rate | Revised Rate |
|---|---|---|
| Up to ₹5 lakh | 10% | 8% |
| ₹5 lakh to ₹7.5 lakh | 15% | 12% |
| ₹7.5 lakh to ₹10 lakh | 20% | 18% |
| ₹10 lakh to ₹12.5 lakh | 25% | 22% |
| ₹12.5 lakh to ₹15 lakh | 30% | 27% |
| Above ₹15 lakh | 35% | 32% |
TDS Rates for Non-Resident Indians (NRIs)
| Section | Existing Rate | Revised Rate |
|---|---|---|
| 195 | 20% | 18% |
| 196A | 20% | 18% |
| 196B | 10% | 8% |
| 196C | 20% | 18% |
| 196D | 20% | 18% |
TDS Rates for Domestic Companies
| Section | Existing Rate | Revised Rate |
|---|---|---|
| 194 | 10% | 8% |
| 194A | 10% | 8% |
| 194B | 30% | 25% |
| 194BB | 30% | 25% |
| 194C | 2% | 1.5% |
| 194D | 10% | 8% |
| 194DA | 10% | 8% |
| 194EE | 10% | 8% |
| 194F | 20% | 18% |
| 194G | 5% | 4% |
| 194H | 5% | 4% |
| 194I | 10% | 8% |
| 194J | 10% | 8% |
| 194K | 10% | 8% |
| 194LA | 10% | 8% |
| 194LB | 10% | 8% |
| 194LC | 10% | 8% |
| 194LD | 10% | 8% |
| 194M | 5% | 4% |
| 194N | 2% | 1.5% |
Impact of Revised TDS Rates
The government, corporations, and individuals are among the many stakeholders who are anticipated to be significantly impacted by the revised TDS rates. Businesses and individuals will have more cash flow as a result of the lower TDS rates, which they can utilize for expansion, investments, and other uses. Conversely, the decreased TDS rates can result in less money coming in for the government.
In Summary
For both people and corporations, the lower TDS rates for FY 2024–25 and AY 2025–26 are a welcome change. The economy will benefit from the lower TDS rates, which will raise cash flow. To guarantee compliance with the tax rules and to take appropriate action, it is imperative that individuals and organizations comprehend the revised TDS rates and their ramifications.
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Note-All the aforementioned information in the article is taken from authentic resources and has been published after moderation. Any change in the information other than fact must be believed as a human error. For queries mail us at marketing@myitronline.com
Krishna Gopal Varshney
An editor at apnokacaKrishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
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Krishna Gopal Varshney
An editor at Myitronline
Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
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