How will income tax rules change from today?  A look

How will income tax rules change from today? A look

By Poonam Behura CNBC-TV18.com Published on October 1, 2024

[{"selector":"#anim-c6ebe670-5e31-4465-96eb-077e9225f319","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-017d8ff5-581c-4d2b-a8ec-5fdfe9b6b96a","keyframes":{"transform":["translate3d(0px, 152.40902%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f9b0e70f-50b7-4f55-8743-fc7f9c2a0970 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] A 10% Tax Deducted at Source (TDS) will apply to interest from specified central and state government bonds, impacting post-tax returns for investors.

[{"selector":"#anim-fde5a860-e660-4285-9816-c0a4155c9fdf","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a3c1cde1-6d32-4fcb-a041-8e771df2661b","keyframes":{"transform":["translate3d(0px, 151.55154%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e2a2ff46-217d-4f57-b5ae-011629772cce [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Securities Transaction Tax (STT) on options rises from 0.0625% to 0.1%, and on futures from 0.0125% to 0.02%, aimed at curbing speculative trading.

[{"selector":"#anim-019a9a4d-b810-48f8-815f-db22d9acf802","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6b3bb16e-d3ff-416c-b531-e7c5f7bca850","keyframes":{"transform":["translate3d(0px, 166.54189%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-166a1181-6675-4689-ba3d-bc9370d0a7ee [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] TDS on life insurance payouts decreases from 5% to 2%, allowing policyholders to retain a larger portion of their claim amounts.

[{"selector":"#anim-0c17b6f1-ae7f-4e53-9530-51d6292d006c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e90e6321-e582-41e5-b064-a432ce25eee2","keyframes":{"transform":["translate3d(0px, 191.37650%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3096024f-71e7-49c8-b07b-6fa151f9e5e4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] TDS for rent payments over ₹50,000 per month drops from 5% to 2%, providing relief to high-rent individuals.

[{"selector":"#anim-8abad347-f502-47a0-a3c7-5c3dea89bff7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-414cfd9c-2c77-4f89-8d0a-7faac10d8873","keyframes":{"transform":["translate3d(0px, -992.97352%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-86b081ee-951e-4d09-8cf4-198d0dffc49b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The 20% TDS on mutual fund repurchases will be removed, easing tax burdens during redemptions.

[{"selector":"#anim-9f985b5f-081f-4cff-8846-ee54e626ccc7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5802602d-5a7c-40c1-8de4-bc47a8b5cc40","keyframes":{"transform":["translate3d(0px, -959.15003%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a879893f-1184-4696-b395-f90b0884e546 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] From today, buybacks will be taxed at the shareholder level, introducing a tax on capital gains for participants.

[{"selector":"#anim-1e893996-86ae-4b10-b1c9-50f6de8973ee","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f0a80946-0fa8-4a90-ad2e-9957cac0fe0d","keyframes":{"transform":["translate3d(0px, -992.97352%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fd3de981-73c1-44c2-932c-b2831a724daa [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-20.717927451842414%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Aadhaar enrolment IDs will not be accepted for PAN applications or income tax returns starting today.

[{"selector":"#anim-a9ec7f32-0f96-4eff-aa81-67e9800836b4","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-0043c15c-d500-4a82-9870-5ae48fa55b6a","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Chinese scientists report first-ever cure for Type 1 Diabetes; Check details Read Next Thanks For Reading! Thanks For Reading!