GST Library

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The image provides details about the new TDS rates effective from October 1, 2024, under various sections of the Indian Income Tax Act. Here's a summary:

Section 194DA: TDS on Payment in Respect of Life Insurance Policy - 2%

Section 194G: TDS on Commission, etc., on Sale of Lottery Tickets - 2%

Section 194H: TDS on Payment of Commission or Brokerage - 2%

Section 194-IB: TDS on Payment of Rent by Individual/HUF - 2%

Section 194M: TDS on Payment of Certain Sums by Certain Individuals/HUF - 2%

Section 194-O: TDS on Payment of Certain Sums by E-Commerce Operator to E-Commerce Participant - 0.1%

These revised TDS rates are applicable to specific types of payments as mentioned, starting from October 2024.

TDS update