{"id":1145,"date":"2024-10-11","guid":{"rendered":"https:\/\/APNOKACA.com\/blog\/?p=105601"},"modified":"2024-10-11","slug":"reduced-tds-rates-beneficial-to-both-people-and-businesses","status":"publish","type":"post","link":"https:\/\/APNOKACA.com\/blog\/reduced-tds-rates-beneficial-to-both-people-and-businesses","title":{"rendered":"Reduced TDS Rates: Beneficial to Both People and Businesses"},"content":{"rendered":"\n
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<\/i> Income tax <\/a>

Reduced TDS Rates: Beneficial to Both People and Businesses <\/h1> <\/div>

In order to lessen the tax burden on different types of payments, the TDS rates under Sections 194-IB, 194-DA, 194-G, 194-H, 194-M, and 194-O have recently changed. The TDS rate for insurance commissions, life insurance payouts, lottery commissions, brokerage fees, and rent payments will be lowered from 5% to 2% as of October 1, 2024, and April 1, 2025. A 2% tax under Section 194M will also be applied to payments made by non-auditable businesses to contractors and professionals. In addition, Section 194-O will apply a reduced TDS rate of 0.75% to e-commerce transactions. These adjustments aim to increase tax compliance across a range of industries and enhance liquidity for professionals, small enterprises, and individuals. <\/p>

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<\/div> Krishna Gopal Varshney <\/a>

An editor at Myitronline<\/p> <\/div>