TMI BlogTDS - Rates for deduction of income-tax at source during the financial year (FY) 2023- 24 from certain incomes other than “Salaries”.X X X X Extracts X X X X X X X X Extracts X X X X ..... section 194BA for deduction of income-tax at source on income by way of winnings from online games at the rate of 30 % being the rate in force. 2. For sections specifying the rate of deduction of tax at source, the tax shall continue to be deducted as per the provisions of these sections. 3. Surcharge- 3.1 The amount of tax so deducted shall be increased by a surcharge,- (a) in the case of every individual or HUF or association of persons, except in case of an association of persons consisting of only companies as its members, or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Act, being a non-resident, calculated,- (i) a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t covered under (iii) and (iv) above (II) It may be noted that in case where the total income of the individual or HUF or association of persons [except in case of an association of persons consisting of only companies as its members], or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Act includes any income by way of dividend or income chargeable under section 111A, 112 and section 112A of the Act, the rate of surcharge on the amount of income-tax deducted in respect of that part of income shall not exceed fifteen per cent. (III) Further, in case where the income of the individual or HUF or association of persons [except in case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s paid or likely to be paid and subject to the deduction exceeds ten crore rupees. (d) in the case of every firm, being a non-resident at the rate of 12% of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds one crore rupees; (e) in the case of every company, other than a domestic company, calculated,- (i) at the rate of 2% of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds one crore rupees but does not exceed ten crore rupees; (ii) at the rate of 5% of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds ten crore ..... X X X X Extracts X X X X X X X X Extracts X X X X
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