For Quick Alerts
For Daily Alerts

TDS, TCS Rates Reduced For Non Salaried Staff Under Economic Package


In a major tax relief, the government has reduced the rates of tax deduction at source for non-salaried payments made to residents and tax collection at source for specified receipts by 25 percent of the existing rate.

TDS, TCS Rates Reduced For Non Salaried Staff Under Economic Package

Detailing this, while launching en economic package, Finance Minister, Nirmala Sitharaman said that if the tax was Rs 100 earlier then it would now be Rs 75. The reduction is to come into effect from tomorrow, May 14.

The payment of contract, professional fees, interest, rent, dividend, commission and brokerage shall all be eligible for the reduced rate.

Read more about: tds tcs
Story first published: Wednesday, May 13, 2020, 17:42 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more