Tax Deducted at Source (TDS) on insurance commission for non-corporates reduced from 5% to 2% from Apr 1, 2025.

Lower TDS rate of 2% on life insurance payouts from Oct 1, 2024 to simplify taxation of capital gains.

Lower 5% TDS on lottery commission/prizes to 2% from Oct 1, 2024 for income over Rs. 15,000.

Income tax deduction on commission/brokerage slashed from 5% to 2% from Oct 1, 2024. Simplified capital gains taxation.

Rent >Rs 50K/month? 5% TDS u/s 194-IB. From Oct '24, 2% TDS rate simplifies capital gains tax.

Sec 194M: TDS rate reduced from 5% to 2% for payments to residents for contracts, commissions, etc. Effective Oct 1, 2024.

Tax deduction on e-commerce sales reduced from 1% to 0.1% from Oct 1, 2024. Parity with offline transactions.

Mutual funds/UTI unit repurchase TDS of 20% abolished from Oct 1, 2024, simplifying capital gains taxation.

Amendment expands tax deduction scope for salaried employees, allowing credit for TCS/TDS paid under certain chapters, easing compliance.

Govt proposes interest rate hike from 1% to 1.5% per month on late TCS payment to align with TDS provisions from Apr 1, 2025.

Remuneration limit for working partners raised: 1st Rs. 6L book profit/loss - Rs. 3L or 90%, whichever higher; balance - 60%.

New tax provision allows parents to claim TCS credit on funds remitted to minors under RBI scheme, effective Jan 1, 2025.

Buy-back of shares treated as dividend, capital loss allowed for shareholders. Nil consideration for capital loss. Effective Oct 2024.

STT hiked on options (0.1%) & futures (0.02%) trades. Delivery equity rates unchanged (0.1%). Exercised options 0.125% on intrinsic value.

Residential house property letting income taxed under 'Income from house property', not 'Business income'. Section 28 amended for clarity from AY 2025...

Gifting shares by cos to face capital gains tax from FY25-26. Exemption under Sec 47(iii) to be limited to individuals & HUFs.

10% TDS on partners' income above Rs. 20K p.a. from April '25 for partnerships. Widening tax base & curbing avoidance.

Tax Collection at Source on luxury goods over Rs. 10 lakh to widen tax base & track high-value expenses. Effective 01/01/2025.

TDS on property transfer based on aggregate payment to all sellers, not individual payments below Rs. 50L. Prevents misinterpretation. Effective 1/10/...

TDS applicable on interest over Rs. 10,000 from FRSB 2020 & specified securities from Oct 1, 2024 as per Income Tax Act Sec 193 amendment.