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of <h1>Union Budget 2024-25: Tax Deduction Rates Adjusted for Non-Domestic Companies & Capital Gains Effective July 23, 2024.</h1> The Union Budget 2024-25 outlines the rates for income-tax deduction at source for the fiscal year 2024-25, excluding salaries. Key provisions include a reduction in the tax deduction rate for non-domestic companies from 40% to 35%. For non-residents, the tax deduction rates on capital gains vary, with changes effective from July 23, 2024. Long-term capital gains under sections 115E and 112A will see an increase from 10% to 12.5%, while certain other gains will decrease to 12.5%. Short-term capital gains under section 111A will increase from 15% to 20%. The Health and Education Cess remains at 4%.
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