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of <h1>Finance Bill 2024: TDS on Lottery Commissions Reduced from 5% to 2% Effective October 1, 2024.</h1> Section 194G of the Finance Bill 2024 proposes a reduction in the tax deducted at source (TDS) rate from 5% to 2% on commissions, remuneration, or prizes exceeding fifteen thousand rupees paid to individuals involved in stocking, distributing, purchasing, or selling lottery tickets. This change will be effective from October 1, 2024, as part of the Union Budget 2024-25 and aims to simplify the taxation process related to lottery ticket sales.
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