income tax news

Income tax news: New TDS rates effective October 1 – What will change for taxpayers | Mint

TheSpuzz Desk2 months ago03 mins

Source: Live Mint Union Finance Minister Nirmala Sitharaman announced income tax changes in the Union Budget 2024, with certain updates scheduled to take effect from October 1. These crucial proposals, approved in the Finance Bill, include revised TDS rates that will be implemented on that date. What is Tax Deducted at Source (TDS)? TDS is…

Stock market news: This income tax rule to be implemented next month | Mint

TheSpuzz Desk3 months ago05 mins

Source: Live Mint Starting October 1, 2024, significant changes will be implemented in the taxation of share buybacks, shifting the tax burden from companies to shareholders. Companies are taxed at 23.296 per cent on buyback transactions, covering surcharges and cess, while shareholders face no tax on the buyback proceeds. Under the new rules, buyback proceeds…

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Income tax news: New TDS rates effective October 1 – What will change for taxpayers | Mint