INDIA
Union Budget 2024: Finance Minister Nirmala Sitharaman Proposes New Measures for E-Commerce TDS and Charity Tax Exemptions
In her Union Budget 2024 presentation, Finance Minister Nirmala Sitharaman outlined several key proposals aimed at streamlining tax regulations.
In her Union Budget 2024 presentation, Finance Minister Nirmala Sitharaman outlined several key proposals aimed at streamlining tax regulations. She announced a comprehensive review of the customs duty structure, set to be completed over the next six months. To ease the burden on digital businesses, the TDS rate on e-commerce transactions will be reduced to 0.1 per cent. Sitharaman also proposed merging two existing tax exemption regimes for charities into a single, simplified framework. Additionally, she recommended decriminalising delays in TDS payments until the tax filing date. Union Budget 2024: Finance Minister Nirmala Sitharaman Unveils Big Sops for Bihar and Andhra Pradesh (Watch Video).
Budget 2024: New E-Commerce TDS Rate and TDS Delay Decriminalisation
#Budget2024 | Union Finance Minister Nirmala Sitharaman says "A comprehensive review of the customs duty structure over the next 6 months. TDS rate on e-commerce to be reduced to 0.1%. I propose that two tax exemption regimes for charities merge into one. I propose to… pic.twitter.com/F1Jasn7CRM
— ANI (@ANI) July 23, 2024
(The above story first appeared on LatestLY on Jul 23, 2024 12:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
