What is the latest TDS Rates Chart for FY 2022-23 (AY 2023-24) applicable? Whether there are any changes in rates from the last Financial Year to the current Financial Year?
![Latest TDS Rates Chart for FY 2022-23 (AY 2023-24)](https://www.basunivesh.com/wp-content/uploads/2022/02/Latest-TDS-Rates-Chart-for-FY-2022-23-AY-2023-24.jpg)
When we receive income through different ways like Salary, Dividend income from mutual funds or stocks, commission, rent, interest on Bank Fixed Deposits / Securities etc., the providers of this income like Bank or your employer deduct the tax before transferring you such income.
TDS or tax deducted at source is a process of collecting Income Tax at the source. It is a process of deducting the tax from the original source of income.
TDS is calculated and levied on the basis of a certain threshold limit, which is the maximum level of income after which TDS will be deducted from your future income/payments. It is deducted as per the Indian Income Tax Act, 1961.
As I told earlier, apart from salary income and Bank FD earning, there are many ways TDS is deducted like interest income…