Nirmala Sitharaman Unveils Budget 2024 with Key TDS Rate Changes for E-Commerce
Tuesday, 23 July 2024, 07:19
Key Changes in Budget 2024
Finance Minister Nirmala Sitharaman presented the Union Budget for 2024, introducing a pivotal change in the TDS rates for e-commerce platforms. The major highlights include:
- TDS Reduction: The TDS rate on e-commerce operators will be cut from 1% to 0.1%.
- Economic Growth: This reduction aims to promote an easier operational environment for emerging businesses.
- Streamlining Tax Regulations: The move is indicative of the government's approach to modernize tax policies in alignment with digital marketplace growth.
Conclusion
This budget by the government demonstrates a strategic effort to boost the digital economy by reducing the burden on e-commerce operators. With these changes, the Modi 3.0 administration is positioning itself to support the thriving online market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.