For FY 2024-25, some key TDS rates include:
- Salary: As per slab rates
- Professional/Technical Services: 10% if payment exceeds ₹30,000 annually
- Rent for Plant/Machinery: 2%
- Rent for Land/Building: 10%
- Interest from Bank: 10% if exceeding ₹40,000 (₹50,000 for senior citizens)
Important notes:
- Higher rates apply if PAN is not furnished
- Small businesses with turnover below ₹1 crore have reduced rates
- Health insurance commission has special rates
These rates are subject to change based on government notifications and taxpayers should verify current rates on the Income Tax portal.