We carried out a detailed balance calculation of quantum dot sensitized solar cell based on widely used TiO2 as electron transport material and polysulfide electrolyte as hole transport material, considering the finite electrochemical potential level for these layers. The findings suggest that detailed balance efficiency decreases much faster for higher band gap quantum dots absorber as compared to that of ideal electron and hole transport layers. The detailed balance efficiency values are close to 20% without carrier multiplication for Eg near exciplex quantum dots, closer to experimental observation with finite Ediff limitation and without considering carrier multiplication, much smaller than the ideal case, which is close to 30% for ideal open circuit voltage. Thus, the present study shows the impact of limited/finite electron and hole transport material energy levels in designing QDSSCs, towards more realistic photovoltaic efficiency values. © 2018, Springer-Verlag GmbH Germany, part of Springer Nature.