Complete reference under Income Tax Act 2025 — rates, thresholds, and due dates
*Updated for Finance Act 2026. Entries marked with ⚡ reflect FA 2026 amendments.
| Sl. No. | Section (New / Old) | Nature of Payment | Rate (Ind/HUF) | Rate (Others) | Threshold | Code for Challans |
|---|
| Sl. No. | Section (New / Old) | Nature of Payment | Rate (Ind/HUF) | Rate (Others) | Threshold | Code for Challans |
|---|
| Sl. No. | Section (New / Old) | Nature of Payment | Rate (Ind/HUF) | Rate (Others) | Threshold | Code for Challans |
|---|
| Sl. No. | Section (New / Old) | Nature of Payment | Rate (Ind/HUF) | Rate (Others) | Threshold | Code for Challans |
|---|
| Sl. No. | Section (New / Old) | Nature of Payment | Rate (Ind/HUF) | Rate (Others) | Threshold | Code for Challans |
|---|
| Particular | Due Date | Source |
|---|---|---|
| TDS Deposit (general) | 7th of the month following deduction | Rule 218 |
| TDS Deposit (March) | 30th April | Rule 218 |
| Government deductors (book adjustment) | Same day as deduction | Rule 218 |
| TDS/TCS Return (Form 138/140/143/144) | 31 Jul / 31 Oct / 31 Jan / 31 May | Rule 219(4) |
| TDS Certificate — Salary (Form 130) | 15 June following the tax year | Rule 215 |
| TDS Certificate — Non-salary (quarterly) | 15 days from TDS return due date | Rule 215 |
| What Changed | What It Means For You |
|---|---|
| Amended by Finance Act, 2026 Sections 427 & 428 substituted — TDS/TCS late fee & ITR late fee restructured | The ₹200/day late fee for TDS/TCS statements was already in place (old Sec 234E). FA 2026 substitutes Sections 427 and 428 to restructure and consolidate the provisions. Key points: (1) ₹200/day continues for late TDS/TCS statements (Sec 427), capped at the tax amount; (2) New Section 428 consolidates late fees for ITR filing, audit reports, and Sec 172 reports into one section. Practical tip: The rate hasn't changed, but the sections are restructured under the new Act — update your reference numbers. |
| Amended by Finance Act, 2026 TDS/TCS prosecution made less harsh + safe harbour if paid on time | If you deduct/collect TDS/TCS but fail to deposit it to the government, earlier the punishment was rigorous imprisonment. Now it has been changed to simple imprisonment. More importantly, no prosecution at all if the TDS/TCS was deposited before the due date of filing the TDS/TCS return for that quarter. Practical tip: As long as you deposit TDS by the return due date (not just the 7th of next month), prosecution risk is eliminated. |
| Amended by Finance Act, 2026 Form 15G/15H can now be submitted to depository electronically | If someone holds units, securities or dividends through a depository (like NSDL/CDSL), they can now furnish Form 15G/15H electronically to the depository instead of giving a physical form to the payer. This applies where income is from units, interest on securities, or dividends listed on a recognised stock exchange. Effective from 1 April 2027. |
| Amended by Finance Act, 2026 No TDS on Motor Accident Claims Tribunal (MACT) compensation | A new exemption has been added. No TDS needs to be deducted on compensation awarded by a Motor Accidents Claims Tribunal in two cases: (a) if paid to an individual, or (b) if paid to any other person and the total interest on such compensation does not exceed ₹50,000 in the tax year. Earlier there was no such specific exemption. |
| Amended by Finance Act, 2026 Lower/Nil TDS certificate application can now be filed online | Applications under Section 395 for a certificate to deduct TDS at a lower rate (or nil) can now be filed electronically before the income-tax authority. The authority can verify it electronically and either issue the certificate or reject the application if conditions are not met or the application is incomplete. No more need for physical applications. |