What is TDS Slab?
Close
Close

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term Plan

Protect Your family’s financial future with Kotak e-Term Plan. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Close

Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

What is TDS Slab?

Section 80C permits taxpayers to lower the tax payment by undertaking tax-saving investments. It provides a maximum deduction of ₹1.5 lakh from the overall income of the payer each year.

  • Jan 31, 2022
  • 1,161 Views

TDS, or Tax Deducted at Source, is a sort of tax in which a person is supposed to deduct tax for the services given. The tax deducted from the full payment sum is used by the government for a variety of purposes, including building infrastructure, defence, and growth, and a specific type of tax (TDS) is imposed depending upon the nature of service and is intended to be deducted by the payer. The deductee is entitled to claim TDS refund online or offline if the deductions are more than the necessary tax amount. The person must file something known as a TDS Return to get the return. TDS can be collected on a monthly, periodic, or one-time basis, and it pertains to salaries, interest, commissions, and fees, among other things.

Tax Exemption Under 80C

Section 80C is amongst the most well-known sections with taxpayers since it permits them to lower their tax liability by undertaking tax-saving investments. It provides a maximum deduction of ₹1.5 lakh from the overall income of the payer each year. Individuals and HUFs can both take advantage of this exemption, and this deduction is not available to corporations, partnership businesses, or LLPs. Tax exemption under 80C and its subsections are as follows:

  • 80CCC
  • 80CCD (1)
  • 80CCD (1b)
  • 80CCD (1c)

Tax Exemption Under TDS

TDS exemption rates are applied based on the following criteria:

Exemption of TDS on Insurance

Premiums paid for insurance policies are not taxable income, but you may have to pay TDS on claim if the policy matures.

House Rental Earnings

A paid employee who lives in rented accommodation can use the House Rent Allowance or HRA. This might be completely or partially exempt from income tax.

Claim for TDS Refund

If you pay more TDS than is necessary based on your income, you can apply for a TDS refund claim online.

Benefits of TDS on Mobile Bills

The cost of a taxpayer’s mobile phone and home phone may be deducted. An employee can request a tax-free reimbursement for expenses incurred under the income tax laws. A request for compensation of either the exact amount paid on their bill or the amount included in their salary package (whichever is smaller) can be raised.

TDS SLAB for TDS Calculator FY 2019-20 (AY 2020-2021)

Section

Type Of Payment

TDS Rates For HUF/Individuals
(Indian Citizens)

TDS Rates For NRI’s In India

192

Income From Salary

As Per Given Income Tax Rates

As Per Income Tax Rates

194

Income From Lotteries, Cards, And Other Games

30

30

194BB

Income Through Horse Racing Wins

30

30

194EE

Contributions Towards NSS Deposits

10

10

194F

Payment For Mutual Funds Or Unit Trust Of India

20

20

194G

Income Earned Through Commission, Sales Of Lottery Ticket And Other Transactions

5

5

194LBB

Investment Fund Income For Unit Holder (apart from the exemption for income under Section 10 (23FBB) )

10

30

194LBC

Income From Investment Scrutinisation Funds In Accordance With Section 115TCA

25 & -30 For Anyone Else

30

In conclusion, it is always a good idea to keep a watch on the new TDS slab information in order to stay up to date on the newest guidelines, tax percentages, and even the deadlines.

Download Brochure

Features

  • Increasing Life Cover*
  • Guaranteed^ Maturity Benefits
  • Enhanced Protection Through Riders
  • Tax Benefits
  • Dual Benefits: Guaranteed^Maturity + Death benefits

Ref. No. KLI/22-23/E-BB/999

T&C

Download Brochure

Features

  • Enhanced Protection Through Riders
  • Life Cover
  • Tax Savings
  • Multiple Premium Payment Terms
  • Guaranteed @ Loyalty Addion
  • Accrued Guaranteed @ Additions

Ref. No. KLI/22-23/E-BB/490

T&C

- A Consumer Education Initiative series by Kotak Life

Similar Articles

What is the Difference Direct Tax and Indirect Tax

How can I get Form 16B from traces?

Income Tax Benefits for Doctors

How to Check Income Tax Refund Status Online in India

Should you prefer a Guaranteed Savings plan over monthly income schemes?

What is the Maximum Maturity Benefit in Assured Savings Plans?

Personal Finance - Meaning, Importance, and Tips for Personal Finance

Guaranteed Return Plans-Why is it a must for you?

Tax Planning and Tax Benefits of Life Insurance

Tax Deductions You MUST Know

Income Tax Deduction Under Section 80CCC In India

What To Do If Your TDS Is Not Deposited With The Government?

Tax Benefits of ULIP Plans Available for NRIs

सुकन्या समृद्धि योजना (SSY) के कर लाभ क्या हैं?

52 Weeks Savings Plan: Daily Savings Plans for a Better Tomorrow

Top 8 Tax-Saving Methods in India- Budget Planning

What Is Advance Tax and How Is It Calculated?

Guide for Tax Calculation on your Salary

Tax Saving Options other than Section 80C

How can NRIs prevent double taxation in India?

What Investment Options Come with Tax Incentives?

Why is Form 16 Important?

Income Tax Deductions & Exemptions under Sections 80C, 80D & 80DDB for FY 2021-22 & 2022-23

Tax Benefit of Investing in Term Plan

Investing Lump Sum Amount

Challan 280 - How to Use Challan 280 to Pay Income Tax

All about TDS on Salary under Section 192 – Kotak Life

What is the difference between TDS and TCS?

How to create wealth through a savings plan?

How Much Money This Budget 2019 Can Help You Save

When Should TDS be Deducted and Who is Liable to Deduct it?

Saving Plans to Give Children a Debt-free College Education

Income Tax Deductions Under Section 80C

A Complete Guide for Filing ITR 3 Form

What is a savings plan?

How to Check Income Tax Returns Status Onine?

Budget 2019: Impact on the Common Man in India

Excess TDS Deduction – Claim TDS Refund

Save Income Tax by 31st March: Here Is a Checklist

Have You Considered Term Insurance a Part of Your Tax Planning?

Types of Riders in Insurance Policy

Pradhan Mantri Suraksha Bima Yojana

Interest Imposed Under Sections 234A, 234B and 234C

What is Section 10D of the Income Tax Act?

Why January Is an Important Month for Saving Tax?

Income Tax Exemption for Disabled

Who Should Invest In Savings Plan

9 Income Tax Myths That Could Cost You Money while Filing returns

Difference between Section 80C, 80CCC, 80CCD & 80D

How To Invest In Guaranteed Return Plans For Higher Returns And Financial Security?

Are Financial Planning and Tax Planning the Same Thing?

Post Office Savings Scheme - All You Need to Know

प्रत्यक्ष कर और अप्रत्यक्ष कर में क्या अंतर है?

What are the Different Types of Taxes in India?

All about TDS Payment Online & Due Dates

Complete Savings Plan for Low Income Earners

Everything You Need to Know About Tax Benefits of National Pension Scheme (NPS)

TDS rules on the sale of jointly owned property

Income Tax Filing Using Multiple Form 16

Plan your Daughter's Wedding With Best Monthly Savings Plan

Income Tax Deductions for Disabled Persons Under Section 80U

What are Deferred Savings Plans?

All you need to know About Tax on Inheritance

8 Things to Help You Select a Savings Investment plan

How to Boost Your Savings with Guaranteed Results

Easy ways to make personal savings plans

भारत में महिलाओं के लिए सरकारी योजना

LTC Cash Voucher Scheme October 2020 – Everything You Need to Know

Why Tax Planning Should Be an All-year Round Activity

धारा 80सी आयकर अधिनियम, 1961

How Should I Allocate A Monthly Savings Plan For Long-Term Benefits?

How To Save Tax Using Life Insurance?

Tax Structure in India

Do Beneficiaries Pay Taxes on Life Insurance?

How to View 26AS and Download Form 26AS Online?

Understanding Tax Exemptions in ULIP (Old and New)

How to create a savings plan and make good investment choices

Should one prefer a guaranteed savings plan over monthly income schemes?

How to File TDS Return?

Impact of GST on Life Insurance in India

Section 80E: Tax Exemption on Interest on Education Loan

What is the Difference between Assessment Year (AY) and Financial Year (FY)?

Home Investment Plan to Buy Dream Home

Tax Exemption and Scope of Coverage

How to Get Form 16?

Highlights of the Union Budget 2023-24

Penalty For Late Filing TDS Return

Basics of Guaranteed Savings Plan

How To Save Tax Better with 80C

Tips to plan your savings in 2022

Insurance and Endowment: Everything You Need to Know!

What is TDS Exemption Limit?

How to e file ITR on Income Tax Government Portal

Received an Income Tax Notice? Your Guide to Understanding Intimations under Section 143 (1)

Sub-sections Under Section 80C of the Income Tax Act, 1961

How to Save Income Tax with Insurance

How to Check Income Tax Refund Status Online in India

How to Calculate returns on an assured savings plan?

Tax Season is Coming- Know How to Save Tax

What is ITR 5 Form and How to File ITR 5?

All You Need to Know About Section 80C

What is indirect tax and its types?

What are Direct Taxes? How to Avoid being Overtaxed?

How to e-Verify your Income Tax Return

What is Form 16A?

What is Section 80C Deduction?

What is ITR & How to File Income Tax Return?

What is Form 16B?

How much gold can you keep at home? Limits and income tax rules explained

What is Section 195 of the Income Tax Act? TDS on Non-Residents of India

What is Rule 132 of Income Tax? How Does it Affect You?

How to Download Form 16?

Problems People Face with Tax Returns after a Job Change

A Guide to Life Insurance Policy’s Tax Benefits and Taxability

Importance of Savings Plan You Need to Know

How to File ITR Online

Presumptive Taxation for Business and Profession

TDS Due Dates of FY 2022-23 For Return Filing

Types of Income Tax Return (ITR) Forms

What is Section 80CCC of the Income Tax Act 1961

3 Tips to Buy Guaranteed Savings Plan

Tax Saving Guide for 2019-20

Section 44AD of Income Tax Act for AY 2021-22

Income Tax Slabs and Rates in India for FY 2021-22/AY 2022-23

What is Section 80C - Explained in Detail

How to save tax for salaried person?

Financial Planning and Best investment options for Housewives

9 Unusual Investments you Didn't Know for Saving Taxes in India

Income-Tax Liability- The Difference Between Gross Income & Total Income in Calculating Income Tax

Section 80G of the Income Tax Act

Can You Get Term Insurance Without Income Proof?

What is HRA (House Rent Allowance) and How is HRA Exemption Calculated?

Financial Benefits and Government Schemes Every Woman in India Should Know

How to File Form 16 for Salaried Employees?

इनकम टैक्स रिटर्न कैसे फाइल करें?

What is the TDS Rate on Salary?

What is the Percentage of Tax Deducted at Source (TDS)?

Money Saving Tips for Single Women

ITR 1: Sahaj Form

What is Tax Deduction at Source (TDS)?

Is PF Withdrawal Taxable for NRI?

What is capital gains tax, and how it works?

Tax Saving Tips: Best Ways to Save Income Tax for 2021

Tax Benefits for Startups in India

How to file Form 16 online?

Best Savings plan for the middle class in India

How Inflation Affects Savings and Investment?

Section 10 (10d) of Income Tax Act, 1961 on Payouts of Life Insurance Policy

Section 80D - Medical and Health Insurance Tax Benefits Under Section 80D

How to File Income Tax Return - Everything You Need to Know

What is the Difference between Form 16 and Form 16A?

Income Tax Exemption for Physically Handicapped Dependent

What is Tax Evasion and What Are The Penalties For Tax Evasion In India?

What is the Last ITR Filing Date and Penalty for Late Filing of ITR?

How to Save Tax on Salary Arrears?

आयकर स्लैब 2021-2022

A Comprehensive Guide to Understand the ITR 7 Form

E-Filing of Income Tax Returns in India

What is Form 26AS - All You Need To Know

List of Important Income Tax FAQs

Things to Do After Filing Income Tax Returns

What is EEE in income tax? 5 tax-free investment options to become crorepat

How Do Assured Savings Plans Work and Why You Should Consider One?

Difference Between Guaranteed Savings Plan and Guaranteed Income Plan

What is Salary Protection Insurance and Why You Need It

Section 80C Deductions as per Income Tax Act, 1961

Saving Income tax in 2017 - 18

Income Tax Filing For NRI in India

What is TDS Refund Process?

How to Pay Advance Tax Online in India

How to File Form 10E for Tax Relief on Salary Arrears?

Difference Between Guaranteed and Assured Returns

How to View 26AS and Download Form 26AS Online

How to File Income Tax Return without Form 16

ITR-6: Guide to filing ITR-6 Form online

Tax-Free Income in India

Tax Saving Options for Salaried Employees

5 Popular Tax-Saving Schemes in India

How to File Income Tax Return for First Time Tax Payers

Investment Proofs You Need Submit To Lower TDS Cut From Your Salary

12 Tax Changes in Budget 2022 that May Impact Your Personal Financial Planning

Section 16 of the Income Tax Act (ITA), 1961

आयकर रिटर्न (आईटीआर) फॉर्म के प्रकार

धारा 80डी आयकर अधिनियम, 1961

All You Need To Know About Assured Savings Plan

Tax-Savings Investments and Options in India

ITR 2 Form – Complete Guide

What is Section 80C Deduction Limit?

Tax Saving for Self Employed in India