TDS under section 194G reduced, lowering withholding obligations for payors and altering compliance timelines effective later this year. Amendment reduces the withholding tax rate under section 194G by substituting the existing rate of five per cent with two per cent, effective from the 1st day of October, 2024, as enacted by the Finance (No. 2) Act, 2024.
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Provisions expressly mentioned in the judgment/order text.
TDS under section 194G reduced, lowering withholding obligations for payors and altering compliance timelines effective later this year.
Amendment reduces the withholding tax rate under section 194G by substituting the existing rate of five per cent with two per cent, effective from the 1st day of October, 2024, as enacted by the Finance (No. 2) Act, 2024.
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