Rs 50,000 crores liquidity through TDS/TCS rate reduction

  1. In order to provide more funds at the disposal of the taxpayers, the rates of Tax Deduction at Source(TDS) for non-salaried specified payments made to residents and rates of Tax Collection at Source (TCS) for the specified receipts shall be reduced by 25 of the existing rates.
  2. Payment for the contract, professional fees, interest, rent, dividend, commission, brokerage, etc shall be eligible for this reduced rate of TDS.
  3. This reduction shall be applicable for the remaining part of the FY 2020 21 i e from tomorrow to 31 st March, 2021
    This measure will release Liquidity of Rs 50 000 crore

 This is a great measure and ensures liquidity in the hands of businessman and they can now utilise this in an effective manner

Priyansh Minocha

Priyansh Minocha is C.E.O and Director at Amonest India Private Limited and Founder at Casolutionsglobal

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