Effective from 1st October 2024, the following TDS rate changes apply:
Section 194DA: TDS on payments from life insurance policies is lowered from 5% to 2%.
Section 194G: Commission on the sale of lottery tickets will now attract 2% TDS, down from 5%.
Section 194H: TDS on commission or brokerage is reduced to 2%, previously 5%.
Section 194-IB: For rent payments by individuals or HUF, TDS is reduced to 2% from the earlier 5%.
Section 194M: TDS on specified payments by individuals or HUF is cut to 2% from 5%.
Section 194-O: TDS on e-commerce payments is reduced from 1% to 0.1%.
The copy of the order is as under:
