Union Budget 2024: Finance Minister Nirmala Sitharaman proposes fresh measures for e-commerce TDS and tax exemption for charities

In her presentation on the Union Budget 2024, Finance Minister Nirmala Sitharaman made several key proposals to streamline tax laws. She announced a comprehensive review of the customs duty structure, which is expected to be completed in the next six months. To ease the burden on digital businesses, the TDS rate on e-commerce transactions will be reduced to 0.1 per cent. Sitharaman also proposed merging the two existing tax exemption schemes for charities into one simplified scheme. She also recommended decriminalising late payment of TDS till the due date of tax. Union Budget 2024: Finance Minister Nirmala Sitharaman offers major relief to Bihar, Andhra Pradesh (Watch Video)

Budget 2024: New TDS Rate on E-commerce and Delay in TDS Decriminalization

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