Certain payments made by individuals attract tax deduction at source (TDS), but many are unaware of it. For instance, 2% TDS applies to rent exceeding ₹50,000 per month, 1% on property purchases above ...

The Finance Act, 2020 has a provision under Section 194-O of the Income Tax (I-T) Act which mandated that e-commerce operator will deduct income tax at the rate of one percent of the gross amount of ...

Key provisions include the reduction of the TDS rate on e-commerce transactions from 1% to 0.1%, significantly enhancing liquidity for sellers. The budget also introduces new schemes for MSMEs to ...

Nirmala Sitharaman's first budget for Modi 3.0, tabled in Parliament, proposes reducing TDS on e-commerce from 1% to 0.1%, merging tax exemption regimes, decriminalizing TDS delays, reviewing customs ...