TDS/TCS rate reduction

Ask the Community Statutory Compliance
1

In order to provide more funds at the disposal of the taxpayers,the rates of Tax Deduction at Source(TDS)for non-salaried specified payments made to residents and rates of Tax Collection at Source (TCS) for the specified receipts shall be reduced by 25%o of the existing rates.

Payment for contract,professional fees,interest,rent,dividend,commission,brokerage,etc.shall be eligible for this reduced rate of TDS.

Courtesy: https://pib.gov.in/PressReleasePage.aspx?PRID=1623585

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Dear Vijay,

Thanks for the info. Just a suggestion - it will be very useful if we mention specific slide numbers when specific matter is mentioned. Otherwise layman person lie me who are not tech at all, get confused. :slightly_smiling_face:

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Dear Shefali Patil,

Thanks a Lot for the suggestion. Please refer slide number 24 to get the more info on the same.

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