Changes in the rates of TDS having applicability from 1st of October 2024
Rajeev Mardia
And Associates
And Associates
Changes in the rates of TDS having applicability from 1st of October 2024
| TDS Sections | Current TDS Rate | Proposed TDS Rate | Effective from |
| Section 194DA – Payment in respect of life insurance policy | 5% | 2% | 1st Oct 2024 |
| Section 194G – Commission on sale of lottery tickets | 5% | 2% | 1st Oct 2024 |
| Section 194H – Payment of commission or brokerage | 5% | 2% | 1st Oct 2024 |
| Section 194-IB – Payment of Rent over 50,000 by Individuals or HUF (Non-Audited) | 5% | 2% | 1st Oct 2024 |
| Section 194M – Payment for any contractual work or commission or professional services above 50 Lakhs by Individuals or HUFs (Non-Audited) | 5% | 2% | 1st Oct 2024 |
| Section 194-O – Payment of certain sum by e-commerce operator to e-commerce participants | 1% | 0.1% | 1st Oct 2024 |
| Section 194F – Payment on account of repurchase of units by mutual funds or UTI |
Proposed to be Omitted |
1st Oct 2024 | |
Note: Lower rate of TDS shall be deducted on invoices issued after 1st October 2024. TDS of September Month to be paid at existing rates only.