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of <h1>Finance Bill 2024: TDS on Commission Payments Reduced from 5% to 2% Effective October 1, 2024.</h1> Section 194H of the Finance Bill 2024 proposes a reduction in the tax deducted at source (TDS) rate on commission or brokerage payments from 5% to 2%. This applies to payments made by entities other than individuals or Hindu undivided families to residents, excluding insurance commissions under section 194D. The amendment is set to take effect from October 1, 2024, as part of the Union Budget 2024-25 initiatives aimed at rationalizing and simplifying the taxation of capital gains.
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