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TDS rate for non-salaried payment cut by 25%

Finance minister Nirmala Sitharaman on Wednesday announced a 25% reduction in TDS (tax deducted at resources) and TCS (tax gathered at source) fee for the current monetary 12 months. This will unlock liquidity value Rs 50,000 cr. The decreased rates shall be acceptable for all sorts of transactions including the fee for contract, skilled charges, pastime, hire and so on.

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