Tds On Rent Fy 2024-25. The tds rate on income depends on the salary of an individual and based on that it ranges between 10% to 30%. Key reductions include tds on life insurance payouts (section 194da) dropping from 5% to 2%, and tds on commissions and brokerage (section 194h) also decreasing to 2%.
The concept of tds was introduced with an aim to collect tax from the source of income. Specifies the type of income on which tds is applicable (e.g., salary, rent, professional fees).