TDS Deductions for ETF's

HI, I would like to understand the TDS charges on the ETF’s.
As per this article from ICICI, NRI Account: 3in1 NRI Demat, Trading & Savings Account - ICICI Direct, if we hold the ETF’s for long term, TDS would be applicable at 23.92% while the other competing company “Zerodha” has TDS charges at 11.96% as per this article How does Zerodha deduct TDS for NRI NON-PIS accounts?

That is a huge difference in terms of TDS charges when I compare with other competing brokerage companies like Zerodha.

TDS is ideally deducted by the government and not be specific to any agency right

I am trying to understand why there would be this much difference.

Can someone please help on this topic.


ETF (Exchange Traded Fund) TDS (Tax Deducted at Source) deduction is applicable when dividends are distributed to investors. Under Indian tax laws, dividends from ETFs are subject to a 10% withholding tax for residents and a higher rate for non-residents, unless reduced under a tax treaty. Investors can claim the withholding tax credited while filing their tax returns.