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Informative

Budget 2024: FM Proposes To Reduce TDS Rate For E- Commerce Operators

Update / Judgement Date

23 Jul 2024

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Corporate ComplianceFinancial ManagementIncome TaxInternational Taxation

In the Budget 2024, Finance Minister Nirmala Sitharaman proposed reducing the Tax Deducted at Source (TDS) rate for e-commerce operators from 1% to 0.1%. This move aims to ease compliance burdens for e-commerce platforms and align India's tax policy with global standards. The reduction is expected to benefit both domestic and international e-commerce operators, encouraging growth and investment in the sector. The change reflects the government’s intent to streamline tax procedures and support the digital economy.