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| S.No. | Section (1961) | Section (2025) | Description | Category | Change Type | Actions |
|---|
| Category | Old Form | Old Section | New Form | New Section | Purpose |
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Section 263(7) (Old Section 139(9))
A return for TY 2026-27 is defective under Rule 166 if:
Section 63 (Old Section 44AB) • TY 2026-27 onwards
TY 2026-27 onwards
Sections 392–396 (Old 192–197) • Form 26AS • TY 2026-27 onwards
Section 510 (Old 285BB) • Rule 245 (Old 114-I) • Form 168 (Old 26AS)
Section 287 (Old 154) • Target: Sec 270(1) Intimation or Assessment Order
Login > Services > Rectification:
TY 2026-27 onwards
Sections 58–60 (Old 44AD/44ADA/44AE) • TY 2026-27 onwards
Section 43B(h) • MSMED Act, 2006 • TY 2024-25 onwards
Rule 46 (Old 6F) • Sec 62 • DPDP Act, 2023 • Best Practice
Schedule FA • Black Money Act, 2015 • Section 140B (Old 139(8A)) • FEMA
TY 2026-27 onwards • Sections 428–441 (2025 Act)
Sections 356–374 (2025 Act) • Old Sections 246A–263
ICAI Guidelines • Council General Guidelines, 2008 • Effective TY 2026-27
Rule 205 • Section 157 (Old 89) • Form 124 (Old 12BB) • Form 39 (Old 10E)
Sections 166–171 • Rules 83–124 • Form 44/48/50–52
Sections 77, 126, 199, 346 • Chapter XIII-G • Rule 146
Section 393(3) • Section 509 • Sec 67A/194S • Rules 135, 207, 242–244
Section 33 (Old 32) • Rule 33 • Form 26 Clause 18 (Old 3CD)
Various Rules • Forms 7–10, 22–23, 104–107, 112, 120, 165, ITR-A
Section 394 (Old 206C(1G)) • TY 2026-27 onwards
Rule 33 (Old Rule 3) • Table II • TY 2026-27
Section 51 • Schedule XII • TY 2026-27 onwards
Section 202 • Rule 164 • Form 10-IEA
Rule 178 • Section 288(1) • Form No. 102
Section 147 • Form No. 35 (Old 10CCF) • Schedule VI
Rules 246–247 • Forms 169 & 170
Schedule V • Forms 175, 176, 177
Section 221 • Forms 72 & 73
Schedule XV • Rule 331 • Form No. 190
Section 341(7) • Rule 184 • Form No. 108
Section 342(1) • Rule 185 • Form No. 109
Section 248 • Rule 151 • Form No. 86
DTAA • Rule 121 • Form No. 55
Section 9(2) • Rule 12 • Form No. 4
Section 511 • Rule 124 • Forms 58 & 59
Section 274 • Rule 129 • Forms 62 & 63
Sections 46, 138–144 • Rule 66 • Form No. 32
Section 157(1) • Rule 73 • Form No. 39
Sections 337, 342, 511 • Various Rules & Forms
Rule 228 • Forms 154, 158 & 159
Rule 211 • Form No. 121 (Old 15G/15H)
Rule 213 • Form No. 128
Rule 75 • Forms 42 & 43
Rule 208 • Form No. 125
Rule 219 • Form No. 139
Rule 234 • Form No. 162
Rule 180 • Form ITR-BL
Rule 236 • Form No. 164
Rule 212 • Form No. 127 (Old 27C)
| Item / Transaction | Sec 1961 | Rate 1961 | Schedule 2025 | Rate 2025 | Status |
|---|
(1) Where any income or sum of the nature specified in column B of the Table below, is credited or paid by the person specified in column C during the tax year, to a resident, the person responsible for paying such income or sum shall deduct income-tax on such income or sum,—
(a) at the rate or rates specified in column D, or at the rate or rates of income-tax specified in the Finance Act of the relevant tax year, whichever is applicable;
(b) at the time of credit of income or sum to the account of the payee, or at the time of its payment in cash or by way of a cheque or a draft or by any other mode, whichever is earlier; and
(c) subject to the provisions of sub-sections (4), (8) and (9).
| Sl. No. | Nature of income or sum | Payer | Rate & Threshold limit |
|---|---|---|---|
| A | B | C | D |
| 1. Commission or brokerage | |||
| (i) | Any income by way of commission or reward, whether by way of commission or otherwise, for soliciting or procuring insurance business (including continuance, renewal of insurance policies). | Any person. | Rate: 2% Threshold limit: ₹20,000. |
| (ii) | Any income by way of brokerage or commission [not being in the nature of insurance commission referred to in serial number 1(i)]. | Specified person. | Rate: 2% Threshold limit: ₹20,000. |
| 2. Rent | |||
| (i) | Any income by way of rent. | Person other than specified person. | Rate: 2% Threshold limit: ₹50,000 for a month or part of a month. |
| (ii) | Any income by way of rent. | Specified person. | Rate: (a) 2%, for the use of any machinery or plant or equipment (including by whatever name called); (b) 10%, for the use of any land, or building (including a factory), or land appurtenant to a building (including a factory), or furniture, or fittings. Threshold limit [for (a) and (b)]: ₹50,000 for a month or part of a month. |
| 3. Payment on transfer of certain immovable property (other than agricultural land) | |||
| (i) | Any consideration for transfer of any immovable property (other than agricultural land). | Any person. | Rate: 1% Threshold limit: Nil [See Notes 1–3 below]. |
| (ii) | Any consideration, not being consideration in kind, under the agreement referred to in section 67(14). | Any person. | Rate: 10% Threshold limit: Nil. |
| (iii) | Any sum, being in the nature of— (a) compensation or the enhanced compensation; or (b) consideration or the enhanced consideration, on account of compulsory acquisition, under any law for the time being in force, of any immovable property (other than agricultural land). |
Any person. | Rate: 10% Threshold limit: ₹5,00,000. |
|
Note 1.—Consideration for transfer of any immovable property under serial number 3(i) shall be the aggregate of the amounts paid or payable by all the transferees to the transferor or all the transferors for transfer of such immovable property for the purposes of the threshold limit mentioned in column D. Note 2.—In case of consideration on which provisions of both serial numbers 3(i) and 3(ii) are applicable, tax shall be deducted under 3(ii) only. Note 3.—For the purposes of 81[serial number 3(i)], the income-tax shall be deducted where consideration for transfer of any immovable property or the stamp duty value of such property, is equal to or greater than fifty lakh rupees. 81. Substituted for "serial number 3(iii)" by the Finance Act, 2026, w.e.f. 1-4-2026. | |||
| 4. Income from capital market | |||
| (i) | Any income in respect of— (a) units of a Mutual Fund specified under Schedule VII (Table: Sl. No. 20 or 21); or (b) units from the Administrator of the specified undertaking; or (c) units from the specified company. |
Any person. | Rate: 10% Threshold limit: ₹10,000. |
| (ii) | Any distributed income referred to in section 223, being of the nature referred to in Schedule V (Table: Sl. Nos. 3 and 4), payable to a unitholder of a Business Trust. | Any Business Trust. | Rate: 10% Threshold limit: Nil. |
| (iii) | Any income, other than that proportion of income which is exempt under Schedule V (Table: Sl. No. 2), in respect of units of an investment fund specified in section 224, payable to its unitholder. | Any Investment fund specified in section 224. | Rate: 10% Threshold limit: Nil. |
| (iv) | Any income in respect of an investment in a securitisation trust specified in section 221 to an investor. | Any securitisation trust specified in section 221. | Rate: 10% Threshold limit: Nil. |
| 5. Interest income | |||
| (i) | Any income by way of Interest on securities. | Any person. | Rate: Rates in force. Threshold limit: ₹10,000. |
| (ii) | Any income by way of interest other than interest on securities. | (a) A banking company; or (b) a co-operative society carrying on the business of banking; or (c) a post office for a deposit made under a scheme notified by the Central Government. |
Rate: Rates in force. Threshold limit: (a) ₹1,00,000 in the case of a senior citizen; (b) ₹50,000 in case of person other than senior citizen. |
| (iii) | Any income being interest other than interest on securities. | Specified person [other than person in Sl. No. 5(ii).C]. | Rate: Rates in force. Threshold limit: ₹10,000. |
|
Note 1.—In serial numbers 5(ii) and (iii), where the interest income credited or paid is in respect of— (a) time deposits with a banking company; or (b) time deposits with a co-operative society engaged in carrying on the business of banking; or (c) deposits with a public company formed and registered in India with the main object of carrying on business of long-term finance for construction or purchase of houses in India for residential purposes and is eligible for deduction under section 32(e), and the person mentioned in column C has not adopted core banking solutions, the threshold limit in column D shall be computed with reference to the income credited or paid by a branch of such person. Note 2.—The person responsible for making the payment referred to in serial number 5(ii) and (iii) of this Table, may at the time of making any deduction, increase or reduce the amount to be deducted for the purpose of adjusting any excess or deficiency arising out of any previous deduction or failure to deduct during the tax year. | |||
| 6. Payments to contractors, fees for professional and technical services, etc. | |||
| (i) | Any sum for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract between the contractor and a designated person. | Any designated person. | Rate: (a) 1%, if contractor is individual or Hindu undivided family; (b) 2%, if contractor is a person other than the person mentioned in (a). Threshold limit [for (a) and (b)]: (a) ₹30,000 for any such sum; and (b) ₹1,00,000 in case of aggregate of such sums. |
| (ii) | Any sum— (a) for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract; or (b) by way of fees for professional services; or (c) by way of commission [not being insurance commission referred to in serial number 1(i)] or brokerage. |
Any person, being an individual or Hindu undivided family [other than those required to deduct income-tax as per Sl. No. 6(i) and (iii) or Sl. No. 1(ii)]. | Rate: 2% Threshold limit: Fifty lakh rupees. |
| (iii) | Any sum by way of— (a) fees for professional services; or (b) fees for technical services; or (c) remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 392, to a director of a company; or (d) royalty; or (e) any sum referred to in section 26(2)(h). |
Specified person. | Rate: (a) 2% of such sum in case of— (i) fees for technical services (not being a professional services); or (ii) royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films; or (iii) payee, engaged only in the business of operation of call centre; (b) 10% of such sum in cases other than (a). Threshold limit: (i) for (a), (b), (d) and (e) of Col. B: ₹50,000; (ii) for (c) of Col. B: Nil. |
| Note.—In serial number 6(i), if any sum is paid or credited for carrying out any work specified in section 402(47)(e), tax shall be deducted at source— (a) on the invoice value excluding the value of material, if such value is specified separately in the invoice; or (b) on the whole of the invoice value, if the value of material is not specified separately in the invoice. | |||
| 7. Dividend | |||
| Any dividend (including dividend on preference shares) declared. | Any domestic company. | Rate: 10% Threshold limit: Nil. |
|
| Note.—The tax shall be deducted at source before making any distribution or payment of dividend. | |||
| 8. Other cases | |||
| (i) | Any sum under a life insurance policy, including the sum allocated as bonus on such policy, other than the amount not includible in the total income under Schedule II (Table: Sl. No. 2). | Any person. | Rate: 2% on income comprised in such sum. Threshold limit: ₹1,00,000. |
| (ii) | Any sum exceeding fifty lakh rupees for purchase of any goods. | Any person, being a buyer. | Rate: 0.1% Threshold limit: As per Note 1. |
| (iii) | Total income of a specified senior citizen after giving effect to deduction allowable under Chapter VIII and rebate allowable under section 156. | Specified bank. | Rate: Rates in force. Threshold limit: As applicable. |
| (iv) | Any benefit or perquisite, whether convertible into money or not, arising from business or the exercise of a profession of any resident. | Specified person. | Rate: 10% of value or aggregate of values of such benefit or perquisite. Threshold limit: ₹20,000. |
| (v) | Any sum on account of sale of goods or provision of services by an e-commerce participant, facilitated by an e-commerce operator through its digital or electronic facility or platform. | Any e-commerce operator. | Rate: 0.1% of gross amount of such sale or services or both. Threshold limit: Nil. |
| (vi) | Any sum by way of consideration for transfer of a virtual digital asset. | Any person. | Rate: 1% Threshold limit: Nil. |
|
Note 1.—(a) The deduction of tax at source under serial number 8(ii) shall not apply to a transaction on which tax is deductible or collectible under any of the provisions of this Chapter. (b) The tax shall be deducted on the sum exceeding fifty lakh rupees. Note 2.—The provisions of serial number 8(iv) shall apply to any benefit or perquisite, whether in cash or in kind or partly in cash and partly in kind, provided or given before providing such benefit or perquisite, as the case may be, the person responsible for providing such benefit or perquisite shall ensure that the tax required to be deducted has been paid, before releasing the benefit or perquisite. Note 3.—For serial number 4, the person responsible for making the payment shall deduct tax at the time of credit of such sum or at the time of payment of such sum in cash or by issue of a cheque or a draft or by any other mode, whichever is earlier. Note 4.—In case of a transaction on which provisions of serial number 8(v) are applicable along with serial number 8(ii) and (iii), the provision of serial number 8(v) shall be applicable. Note 5.—The provisions of serial number 8(iii) shall take precedence over any other provision of this Chapter. Note 6.—For serial number 8(i), if any sum is paid or credited for carrying out any work specified in section 402(47)(e), or in case of a transaction on a virtual digital asset— (i) is in exchange of another virtual digital asset where there is no part in cash, in respect of serial number 8(vi); (ii) is wholly in kind; or (iii) is partly in kind and partly in cash, but such part in cash is not sufficient to meet the liability of deduction of tax in respect of the whole of such winnings, the person responsible for paying shall ensure that the tax required to be deducted has been paid, before releasing the payment or providing such consideration or benefit. | |||
(2) Where any income or sum of the nature specified in column B of the Table below, is credited or paid by the person specified in column D during the tax year, to a non-resident specified in column C, the person responsible for paying such income or sum shall deduct income-tax on such income or sum,—
(a) at the rate specified in column E;
(b) at the time of credit of income or sum to the account of the payee or at the time of its payment in cash or by way of a cheque or a draft or by any other mode, whichever is earlier; and
(c) subject to the provisions of sub-sections (4), (8) and (9).
| Sl. No. | Nature of income or sum | Payee | Payer | Rate |
|---|---|---|---|---|
| A | B | C | D | E |
| 1. | Any income referred to in section 211. | (a) A non-resident sportsman (including an athlete), who is not a citizen of India; or (b) a non-resident sports association or institution. |
Any person. | 20% |
| 2. | Any income by way of interest payable in respect of moneys borrowed in foreign currency from a source outside India,— (a) under a loan agreement or issue of long-term infrastructure bond on or after 1st July, 2012 but before 1st July, 2023; or (b) by way of issue of any long-term bond on or after 1st October, 2014 but before 1st July, 2023, which is approved by the Central Government in this behalf. |
Any non-resident (not being a company) or a foreign company. | Any Indian company or a business trust. | 5% |
| 3. | Any income by way of interest payable in respect of moneys borrowed from a source outside India by way of issue of rupee denominated bond before 1st July, 2023. | Any non-resident (not being a company) or a foreign company. | Any Indian company or a business trust. | 5% |
| 4. | Any income by way of interest payable in respect of moneys borrowed from a source outside India by way of issue of any long-term bond or rupee denominated bond, which is listed only on a recognised stock exchange located in any International Financial Services Centre. | Any non-resident (not being a company) or a foreign company. | Any Indian company or a business trust. | (a) 4%, where such bonds are issued on or after 1st April, 2020 but before 1st July, 2023; or (b) 9%, where such bonds are issued on or after 1st July, 2023. |
| 5. | Any income by way of interest. | Any non-resident (not being a company) or a foreign company. | Any infrastructure debt fund referred to in Schedule VII (Table: Sl. No. 46). | 5% |
| 6. | Any distributed income referred to in section 223, being of the nature referred to in Schedule V (Table: Sl. No. 3), payable to a unit holder, being a non-resident (not being a company) or a foreign company. | Any unit holder, being a non-resident (not being a company) or a foreign company. | Any business trust. | (a) 5%, in case of income of the nature referred to in Schedule V [Table: Sl. No. 3.B(a)]; and (b) 10%, in case of income of the nature referred to in Schedule V [Table: Sl. No. 3.B(b)]. |
| 7. | Any distributed income referred to in section 223, being of the nature referred to in Schedule V (Table: Sl. No. 4). | Any unitholder, being a non-resident (not being a company) or a foreign company. | Any business trust. | Rates in force. |
| 8. | Any income, other than that proportion of income which is exempt under Schedule V (Table: Sl. No. 2), in respect of units of an investment fund specified in section 224, payable to its unitholder. | Any unitholder, being a non-resident (not being a company) or a foreign company. | Any investment fund specified in section 224. | Rates in force. |
| 9. | Any income in respect of an investment in a securitisation trust specified in section 221. | Any investor, being a non-resident (not being a company) or a foreign company. | Any securitisation trust specified in section 221. | Rates in force. |
| 10. | Any income— (a) in respect of units of a Mutual Fund specified under Schedule VII (Table: Sl. No. 20 or 21); or (b) in respect of units from the specified company. |
Any non-resident (not being a company) or a foreign company. | Any person. | As per Note 2. |
| 11. | Any income in respect of units referred to in section 208. | Any offshore fund. | Any person. | 10% |
| 12. | Any income by way of long-term capital gains arising from the transfer of units referred to in section 208. | Any offshore fund. | Any person. | 12.5% |
| 13. | Any income by way of interest or dividends in respect of bonds or Global Depository Receipts referred to in section 209. | Any non-resident. | Any person. | 10% |
| 14. | Any income by way of long-term capital gains arising from the transfer of bonds or Global Depository Receipts referred to in section 209. | Any non-resident. | Any person. | 12.5% |
| 15. | Any income in respect of securities referred to in section 210(1) (Table: Sl. No. 1). | Any Foreign Institutional Investor. | Any person. | As per Note 2. |
| 16. | Any income in respect of securities referred to in section 210(1) (Table: Sl. No. 1). | A specified fund referred to in Schedule VI [Note 1(g)]. | Any person. | 10% |
| 17. | Any interest (not being interest referred to against serial numbers 2, 3, 4 and 5) or any other sum chargeable under the provisions of this Act, not being income chargeable under the head "Salaries". | Any non-resident (not being a company) or a foreign company. | Any person. | Rates in force. |
|
Note 1.—For serial numbers 2 and 3, the interest payable shall be income to the extent to which each interest maturity exceeds the amount of interest per annum on such bonds as specified in the Central Government notification in this behalf. (b) The provisions of sub-section (2) shall not apply to any interest or dividends in respect of bonds as mentioned in serial number 13 to a person not being an Indian concern or a permanent establishment in India of a foreign concern. Note 2.—The rates in force shall apply to income specified in serial numbers 10 and 15 of this Table. | ||||
(3) Where any income or sum of the nature specified in column B is credited or paid to any person by any person specified in column C, the person responsible for paying shall deduct income-tax on it at the rate or rates specified in column D, at the time of credit or payment, whichever is earlier, subject to sub-sections (4), (8) and (9).
| Sl. No. | Nature of income or sum | Payer | Rate & Threshold limit |
|---|---|---|---|
| A | B | C | D |
| 1. | Any income by way of winnings from— (a) any lottery or crossword puzzle; or (b) crossword puzzle; or (c) card game and other game of any sort; or (d) gambling or betting of any form or nature whatsoever. |
Any person. | Rate: Rates in force. Threshold limit: ₹10,000 in aggregate during tax year. |
| 2. | Any income by way of winnings from online game. | Any person. | Rate: Rates in force. Threshold limit: As per Note 1. |
| 3. | Any income by way of winnings from any horse race. | Any person, being a bookmaker or a person to whom a licence has been granted by the Government under any law for the time being in force for horse racing in any race course or for arranging or wagering or betting in any race course. | Rate: Rates in force. Threshold limit: ₹10,000 in case of a single transaction. |
| 4. | Any income, credited or paid to a person, who is or has been stocking, distributing, purchasing or selling lottery tickets, by way of commission, remuneration or prize (by whatever name called) on such tickets. | Any person. | Rate: 2% Threshold limit: ₹20,000. |
| 5. | Any sum, paid in cash, from one or more accounts maintained by any person (herein referred as recipient). | (a) a banking company; (b) a co-operative society engaged in carrying on the business of banking; or (c) a post office. |
Rate: 2% Threshold limit: (a) three crore rupees in case of recipient being a co-operative society; or (b) one crore rupees in case of recipient being a person other than a co-operative society. |
| 6. | Any amount referred to in section 80CCA(2)(a) of the Income-tax Act, 1961 (43 of 1961). | Any person. | Rate: 10% Threshold limit: ₹2,500. |
| 7. | Any sum in the nature of salary, remuneration, commission, bonus or interest paid to a partner of the firm or credited to his account (including capital account). | Any person, being a firm. | Rate: 10% Threshold limit: ₹20,000. |
|
Note 1.—For serial number 2, tax shall be deducted— (a) on net winnings in the user account of the payee at the end of the tax year; (b) where there is any withdrawal from user account during the tax year, the tax shall be deducted at the time of such withdrawal on the net winnings comprised in such withdrawal as well as on the remaining amount of net winnings in user account at the end of the tax year, where the net winnings in each case is computed in the such manner as may be prescribed. Note 2.—For serial numbers 1 and 2, where the winnings or net winnings, as the case may be,— (a) is wholly in kind; or (b) is partly in kind and partly in cash, but such part in cash is not sufficient to meet the liability of deduction of tax in respect of the whole of such winnings, then, the person responsible for paying shall ensure that the tax required to be deducted has been paid, before releasing the winnings. Note 3.—For serial number 4, the person responsible for making the payment shall deduct tax at the time of credit of such sum or at the time of payment of such sum in cash or by issue of a cheque or a draft or by any other mode, whichever is earlier. | |||
(4) The deduction of tax at source shall not be made under the provisions referred to in column B of the Table below, in respect of the income or sum along with the conditions, specified in column C:
| Sl. No. | Provisions for tax deduction at source | Condition for no deduction on income or sum |
|---|---|---|
| A | B | C |
| 1. | Commission or Brokerage referred to in section 393(1) [Table: Sl. No. 1(i)]. | Commission or brokerage payable by Bharat Sanchar Nigam Limited or Mahanagar Telephone Nigam Limited to their public call office franchisees. |
| 2. | Rent referred to in section 393(1) [Table: Sl. No. 2(iii)]. | Income by way of rent credited or paid to a business trust, being a real estate investment trust, in respect of any real estate asset, referred to in Schedule V (Table: Sl. No. 4), owned directly by such business trust. |
| 3. | Compensation on acquisition of immovable property referred to in section 393(1) [Table: Sl. No. 3(iii)]. | Income by way of any award or agreement which has been granted compensation levy of income tax under section 96 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (30 of 2013). |
| 4. | Income in respect of units referred to in section 393(1) [Table: Sl. No. 4(i)]. | If income is of the nature of capital gain. |
| 5. | Income from units of a business trust referred to in section 393(1) [Table: Sl. No. 4(ii)]. | Income of the nature referred to in Schedule V [Table: Sl. No. 3.B(b)], if the special purpose vehicle referred to in the said serial number has not exercised the option under section 200. |
| 6. | Interest on securities referred to in section 393(1) [Table: Sl. No. 5(i)]. | (a) Interest payable on— (i) National Development Bonds; (ii) such debentures, issued by such institution or authority or any other person as the Central Government may, by notification, specify in this behalf; (iii) any security of the Central Government or a State Government, other than— (A) 8% Savings (Taxable) Bonds, 2003; or (B) 7.75% Savings (Taxable) Bonds, 2018; or (C) Floating Rate Savings Bonds, 2020 (Taxable); or (D) any other security of the Central Government or State Government as the Central Government may, by notification, specify in this behalf; (b) interest payable to— (i) the Life Insurance Corporation of India; (ii) the General Insurance Corporation of India or to any of the four companies formed under section 16(1) of the General Insurance Business (Nationalisation) Act, 1972; (iii) any other insurer in respect of any securities owned by it or in which it has full beneficial interest; or (iv) a "business trust" in respect of any securities, by a special purpose vehicle referred to in Schedule V (Table: Sl. No. 3). |
| 7. | Interest other than interest referred to in section 393(1) [Table: Sl. No. 5(ii) and 5(iii)]. | (a) Interest income credited or paid to— (i) any banking company 82[or any co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank)]; (ii) any financial corporation established by or under a Central Act or State Act or Provincial Act; (iii) the Life Insurance Corporation of India; (iv) the Unit Trust of India; (v) any company or co-operative society carrying on the business of insurance; (vi) such other institution notified by the Central Government before 1st April, 2020; (b) interest income credited or paid— (i) by a co-operative society other than a co-operative bank, to a member thereof; (ii) by a co-operative society to any other co-operative society; (iii) in respect of deposits with a primary agricultural credit society or a primary credit society or a co-operative land mortgage bank or a co-operative land development bank; (iv) in respect of deposits (other than time deposits made on or after 1st July, 1995) with a co-operative society engaged in the business of banking, except when total sales exceed fifty crore rupees and interest exceeds the threshold limit in section 393(1) (Table: Sl. No. 5(ii))D; (c) interest income credited or paid— (i) by the Central Government under any provision of this Act or the Income-tax Act, 1961; (ii) in respect of deposits under any scheme framed and notified by the Central Government; (iii) in respect of deposits (other than time deposits made on or after 1st July, 1995) with a banking company; 83[(iv) on the compensation amount awarded by a Motor Accidents Claims Tribunal— (A) to an individual; or (B) to a person other than an individual, where the aggregate interest on such compensation does not exceed ₹50,000 during the tax year;] (v) or payable by an infrastructure capital company; or infrastructure capital fund; or infrastructure debt fund; or a public sector company; or scheduled bank in relation to a zero coupon bond issued on or after 1st June, 2005; (vi) as referred to in Schedule V (Table: Sl. No. 3); (vii) by a firm to a partner of the firm. 82. Inserted by the Finance Act, 2026, w.e.f. 1-4-2026. 83. Substituted by the Finance Act, 2026, w.e.f. 1-4-2026. |
| 8. | Payments to contractors referred to in section 393(1) [Table: Sl. No. 6(i)]. | (a) Where— (i) any sum credited or paid or likely to be credited or paid during the tax year to the account of a contractor for carrying out any work in the course of business of plying, hiring or leasing goods carriages; and (ii) that contractor owns ten or less goods carriages at any time during the tax year; and (iii) furnishes a declaration to that effect along with his Permanent Account Number to the person paying or crediting the sum; and (iv) the person responsible for paying to the contractor furnishes to the prescribed income-tax authority the particulars in such form and within such time as may be prescribed; (b) where such sum is credited or paid by individual or Hindu undivided family exclusively for personal purposes of such individual or any member of Hindu undivided family. |
| 9. | Fees for professional or technical services referred to in section 393(1) [Table: Sl. No. 6(iii)]. | Where such sum is credited or paid by individual or Hindu undivided family exclusively for personal purposes of any individual or any member of Hindu undivided family. |
| 10. | Dividend referred to in section 393(1) [Table: Sl. No. 7]. | Dividend income credited or paid to— (a) the Life Insurance Corporation of India; (b) the General Insurance Corporation of India or to any of the four companies formed under section 16(1) of the General Insurance Business (Nationalisation) Act, 1972; (c) any other insurer in respect of any shares owned by it or in which it has full beneficial interest; (d) a "business trust" in respect of any securities, by a special purpose vehicle referred to in Schedule V (Note 2); (e) any other person as may be notified by the Central Government; (f) a shareholder, being an individual, if— (I) the dividend is paid by the company by any mode other than cash; and (II) amount or aggregate of such dividend does not exceed ₹10,000 during the tax year. |
| 11. | Payment by e-commerce operator to e-commerce participant referred to in section 393(1) [Table: Sl. No. 8(v)]. | Where the amount is credited or paid or likely to be credited or paid to the account of an e-commerce participant, being an individual or a Hindu undivided family, whose gross amount of sales of services or both during the tax year does not exceed ₹5,00,000; and the e-commerce participant has furnished the Permanent Account Number or Aadhaar number to the e-commerce operator. |
| 12. | Payment on transfer of virtual digital asset referred to in section 393(1) [Table: Sl. No. 8(vi)]. | Where value or aggregate value of such consideration during the tax year does not exceed— (a) in the case of an individual or a Hindu undivided family— (i) whose total sales, gross receipts or turnover from the business carried on by him does not exceed one crore rupees in case of business, or fifty lakh rupees in case of profession, during the tax year immediately preceding the tax year in which such virtual digital asset is transferred; and (ii) not having any income under the head "Profits and gains of business or profession"; (b) ₹10,000, when payable by any person other than the person referred to in clause (a). |
| 13. | Income from units of a business trust referred to in section 393(2) (Table: Sl. No. 6). | Income of the nature specified in Schedule V [Table: Sl. No. 3.B(b)], if the special purpose vehicle referred to in the said clause has not exercised the option under section 200. |
| 14. | Income in respect of units of investment fund referred to in section 393(2) (Table: Sl. No. 8). | Income that is not chargeable to tax under the provisions of this Act. |
| 15. | Income in respect of units of non-residents referred to in section 393(2) (Table: Sl. No. 10). | Income payable in respect of units of the Unit Trust of India to a non-resident Indian or a non-resident Hindu undivided family, subject to prescribed conditions. |
| 16. | Income of Foreign Institutional Investors from securities referred to in section 393(2) (Table: Sl. No. 15). | Income, by way of capital gains arising from the transfer of securities referred to in section 210, if payable to a Foreign Institutional Investor. |
| 17. | Income of Specified Fund from securities referred to in section 393(2) (Table: Sl. No. 16). | Income is exempt as per Schedule VI (Table: Sl. Nos. 1 to 4). |
| 18. | Payment of certain amounts in cash referred to in section 393(3) (Table: Sl. No. 5). | Payment made to— (a) the Government; (b) any banking company or co-operative society engaged in carrying on the business of banking or a post office; (c) any business correspondent of a banking company or co-operative society engaged in carrying on the business of banking, as per the guidelines issued in this regard by the Reserve Bank of India under the Reserve Bank of India Act, 1934 (2 of 1934); (d) any white label automated teller machine operator of a banking company or co-operative society engaged in carrying on the business of banking, as per the authorisation issued by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007 (51 of 2007). |
| 19. | Payment in respect of deposits under National Savings Scheme, etc., referred to in section 393(1) (Table: Sl. No. 6). | Payment made to heirs of an assessee. |
(5) Irrespective of anything contained in this Chapter, the tax shall not be deducted by any person from any amount payable to—
(a) the Government; or
(b) the Reserve Bank of India; or
(c) a corporation established by or under a Central Act which is, under any law, exempt from income-tax on its income; or
(d) a Mutual Fund specified under Schedule VII (Table: Sl. No. 20 or 21), where such amount is payable to it by way of— (A) interest; or (B) dividend declared, distributed or paid to the fund; or (C) income from securities owned by it.
(6) The deduction of tax at source shall not be made, or shall be made at such lower rate, in the case of a person specified in column B of the Table below, if income of the nature specified against him in column C, is received by him, subject to the conditions in column D:
| Sl. No. | Person | Provisions for tax deduction at source |
|---|---|---|
| 1. | An individual being a resident. | (a) payment of accumulated balance due to an employee referred to in section 392(7); (b) insurance Commission referred to in section 393(1) [Table: Sl. No. 1(i)]; (c) payment of life insurance policy referred to in section 393(1) [Table: Sl. No. 2(i)]; (d) rent referred to in section 393(1) [Table: Sl. No. 2(ii)]. |
| 2. | Any person not being a company or an individual covered in Sl. No. (1). | Sl. No. 1(1)(a) to (f), i.e.— (a) payment of accumulated balance due to an employee referred to in section 392(7); (b) insurance commission referred to in section 393(1) [Table: Sl. No. 1(i)]; (c) payment of life insurance policy referred to in section 393(1) [Table: Sl. No. 2(i)]; (d) income in respect of units referred to in section 393(1) [Table: Sl. No. 4(i)]; (e) interest referred to in section 393(1) [Table: Sl. No. 5(i) and (ii)]; (f) payment in respect of life insurance policy referred to in section 393(1) [Table: Sl. No. 8(i)]; (g) dividend referred to in section 393(1) [Table: Sl. No. 7]. |
| Note.—The provisions of this sub-section shall not apply in case of a person referred to in column B of the Table, other than an individual being a resident who is of the age of sixty years or more at any time during the tax year, if the aggregate of amounts of any income or sum of the nature referred to in the provision mentioned in column C of this Table, is credited or paid or likely to be credited or paid during the relevant tax year in which such income or sum is to be included, exceeds the maximum amount not chargeable to tax. | ||
(6)(a) Irrespective of anything in sub-sections (1), (2) or (3), the deduction of tax shall not be made, or shall be made at such lower rate, in the case of a person who makes a declaration in writing in duplicate in the prescribed form and verified in the prescribed manner, to the effect that the tax on his estimated total income of the relevant tax year will be nil.
(6)(b) [Inserted by Finance Act, 2026, w.e.f. 1-4-2027] The declaration referred to in clause (a) may also be furnished electronically to a depository, as defined in section 2(e) of the Depositories Act, 1996 (22 of 1996), where—
(i) the income is from units, interest on securities or dividends, as the case may be, as referred to in section 393(1) [Table: 4(i), 5(i) or 7];
(ii) such units or securities are held with such depository; and
(iii) such securities are listed on a recognised stock exchange,
in accordance with such procedure and manner, as may be prescribed.
(7) The person responsible for paying any income or sum of the nature referred to in sub-section (6) shall deliver or cause to be delivered, such declaration referred thereto, received from the person, as specified in column B of the Table in sub-section (6) or the depository, to the prescribed income-tax authority, on or before the seventh day of the month immediately following the end of each quarter in which declaration is furnished to him as per sub-section (6).
(8) Irrespective of anything contained in sub-section (6), the deduction of tax shall not be made from the interest paid by an Offshore Banking Unit on borrowing from or deposit made on or after the 1st April, 2005, by a non-resident or a person not ordinarily resident in India.
(9) Irrespective of anything contained in this Chapter, the deduction of tax shall not be made from any payment to a person for, or on behalf of, the New Pension System Trust referred to in Schedule VII (Table: Sl. No. 41).
(10) In a case other than that referred to in section 393(2)(c), where under an agreement or an arrangement, if the tax chargeable on any income of the recipient referred to in this Chapter is to be borne by the payer, then, for the purposes of deduction of tax, the income shall be increased to an amount which after deduction of tax as per provisions of this Chapter becomes equal to the net amount payable under such agreement or arrangement.
(11) The credit of any income or sum to any account, whether called "suspense account" or by any other name, in the books of account of the person liable to pay such income or sum, shall be deemed to be the credit of such income or sum to the account of the payee and the provisions of this Chapter shall apply accordingly.
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(2) Where any income or sum of the nature specified in column B of the Table below, is credited or paid by the person specified in column D during the tax year, to a non-resident specified in column C, the person responsible for paying such income or sum shall deduct income-tax on such income or sum,—
(a) at the rate specified in column E;
(b) at the time of credit of income or sum to the account of the payee or at the time of its payment in cash or by way of a cheque or a draft or by any other mode, whichever is earlier; and
(c) subject to the provisions of sub-sections (4), (8) and (9).
| Sl. No. | Nature of income or sum (B) | Payee (C) | Payer (D) | Rate (E) |
|---|---|---|---|---|
| 1. | Any income referred to in section 211. | (a) A non-resident sportsman (including an athlete), who is not a citizen of India; or (b) a non-resident sports association or institution. | Any person. | 20% |
| 2. | Any income by way of interest payable in respect of moneys borrowed in foreign currency from a source outside India,— (a) under a loan agreement or issue of long-term infrastructure bond on or after 1st July, 2012 but before 1st July, 2023; or (b) by way of issue of any long-term bond on or after 1st October, 2014 but before 1st July, 2023, which is approved by the Central Government in this behalf. | Any non-resident (not being a company) or a foreign company. | Any Indian company or a business trust. | 5% |
| 3. | Any income by way of interest payable in respect of moneys borrowed from a source outside India by way of issue of rupee denominated bond before 1st July, 2023. | Any non-resident (not being a company) or a foreign company. | Any Indian company or a business trust. | 5% |
| 4. | Any income by way of interest payable in respect of moneys borrowed from a source outside India by way of issue of any long-term bond or rupee denominated bond, which is listed only on a recognised stock exchange located in any International Financial Services Centre. | Any non-resident (not being a company) or a foreign company. | Any Indian company or a business trust. | (a) 4%, where such bonds are issued on or after 1st April, 2020 but before 1st July, 2023; or (b) 9%, where such bonds are issued on or after 1st July, 2023. |
| 5. | Any income by way of interest. | Any non-resident (not being a company) or a foreign company. | Any infrastructure debt fund referred to in Schedule VII (Table: Sl. No. 46). | 5% |
| 6. | Any distributed income referred to in section 223, being of the nature referred to in Schedule V (Table: Sl. No. 3), payable to a unit holder, being a non-resident (not being a company) or a foreign company. | Any unit holder, being a non-resident (not being a company) or a foreign company. | Any business trust. | (a) 5%, in case of income of the nature referred to in Schedule V [Table: Sl. No. 3.B(a)]; and (b) 10%, in case of income of the nature referred to in Schedule V [Table: Sl. No. 3.B(b)]. |
| 7. | Any distributed income referred to in section 223, being of the nature referred to in Schedule V (Table: Sl. No. 4). | Any unitholder, being a non-resident (not being a company) or a foreign company. | Any business trust. | Rates in force. |
| 8. | Any income, other than that proportion of income which is exempt under Schedule V (Table: Sl. No. 2), in respect of units of an investment fund specified in section 224, payable to its unitholder. | Any unitholder, being a non-resident (not being a company) or a foreign company. | Any investment fund specified in section 224. | Rates in force. |
| 9. | Any income in respect of an investment in a securitisation trust specified in section 221. | Any investor, being a non-resident (not being a company) or a foreign company. | Any securitisation trust specified in section 221. | Rates in force. |
| 10. | Any income— (a) in respect of units of a Mutual Fund specified under Schedule VII (Table: Sl. No. 20 or 21); or (b) in respect of units from the specified company. | Any non-resident (not being a company) or a foreign company. | Any person. | As per Note 2. |
| 11. | Any income in respect of units referred to in section 208. | Any offshore fund. | Any person. | 10% |
| 12. | Any income by way of long-term capital gains arising from the transfer of units referred to in section 208. | Any offshore fund. | Any person. | 12.5% |
| 13. | Any income by way of interest or dividends in respect of bonds or Global Depository Receipts referred to in section 209. | Any non-resident. | Any person. | 10% |
| 14. | Any income by way of long-term capital gains arising from the transfer of bonds or Global Depository Receipts referred to in section 209. | Any non-resident. | Any person. | 12.5% |
| 15. | Any income in respect of securities referred to in section 210(1) (Table: Sl. No. 1). | Any Foreign Institutional Investor. | Any person. | As per Note 2. |
| 16. | Any income in respect of securities referred to in section 210(1) (Table: Sl. No. 1). | A specified fund referred to in Schedule VI [Note 1(g)]. | Any person. | 10% |
| 17. | Any interest (not being interest referred to against serial numbers 2, 3, 4 and 5) or any other sum chargeable under the provisions of this Act, not being income chargeable under the head "Salaries". | Any non-resident (not being a company) or a foreign company. | Any person. | Rates in force. |
Note 1.—For serial numbers 2 and 3, the interest payable shall be income to the extent to which each interest maturity exceeds the amount of interest per annum on such bonds as specified in the Central Government notification in this behalf. (b) The provisions of sub-section (2) shall not apply to any interest or dividends in respect of bonds as mentioned in serial number 13 to a person not being an Indian concern or a permanent establishment in India of a foreign concern.
Note 2.—The rates in force shall apply to income specified in serial numbers 10 and 15 of this Table.
(3) Where any income or sum of the nature specified in column B is credited or paid to any person by any person specified in column C, the person responsible for paying shall deduct income-tax on it at the rate or rates specified in column D, at the time of credit or payment, whichever is earlier, subject to sub-sections (4), (8) and (9).
| Sl. No. | Nature of income or sum (B) | Payer (C) | Rate & Threshold limit (D) |
|---|---|---|---|
| 1. | Any income by way of winnings from— (a) any lottery or crossword puzzle; or (b) crossword puzzle; or (c) card game and other game of any sort; or (d) gambling or betting of any form or nature whatsoever. | Any person. | Rate: Rates in force. Threshold: ₹10,000 in aggregate during tax year. |
| 2. | Any income by way of winnings from online game. | Any person. | Rate: Rates in force. Threshold: As per Note 1. |
| 3. | Any income by way of winnings from any horse race. | Any person, being a bookmaker or a person to whom a licence has been granted by the Government under any law for the time being in force for horse racing in any race course or for arranging or wagering or betting in any race course. | Rate: Rates in force. Threshold: ₹10,000 in case of a single transaction. |
| 4. | Any income, credited or paid to a person, who is or has been stocking, distributing, purchasing or selling lottery tickets, by way of commission, remuneration or prize (by whatever name called) on such tickets. | Any person. | Rate: 2% Threshold: ₹20,000. |
| 5. | Any sum, paid in cash, from one or more accounts maintained by any person (herein referred as recipient). | (a) a banking company; (b) a co-operative society engaged in carrying on the business of banking; or (c) a post office. | Rate: 2% Threshold: (a) ₹3 crore in case of recipient being a co-operative society; or (b) ₹1 crore in case of recipient being a person other than a co-operative society. |
| 6. | Any amount referred to in section 80CCA(2)(a) of the Income-tax Act, 1961 (43 of 1961). | Any person. | Rate: 10% Threshold: ₹2,500. |
| 7. | Any sum in the nature of salary, remuneration, commission, bonus or interest paid to a partner of the firm or credited to his account (including capital account). | Any person, being a firm. | Rate: 10% Threshold: ₹20,000. |
Note 1.—For serial number 2, tax shall be deducted— (a) on net winnings in the user account of the payee at the end of the tax year; (b) where there is any withdrawal from user account during the tax year, the tax shall be deducted at the time of such withdrawal on the net winnings comprised in such withdrawal as well as on the remaining amount of net winnings in user account at the end of the tax year, where the net winnings in each case is computed in the such manner as may be prescribed.
Note 2.—For serial numbers 1 and 2, where the winnings or net winnings, as the case may be,— (a) is wholly in kind; or (b) is partly in kind and partly in cash, but such part in cash is not sufficient to meet the liability of deduction of tax in respect of the whole of such winnings, then, the person responsible for paying shall ensure that the tax required to be deducted has been paid, before releasing the winnings.
Note 3.—For serial number 4, the person responsible for making the payment shall deduct tax at the time of credit of such sum or at the time of payment of such sum in cash or by issue of a cheque or a draft or by any other mode, whichever is earlier.