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

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