Business News
Home > Business News
Firms do not have to deduct TDS on shares, commodities traded on bourses
TIWN
TIWN
PHOTO : TIWN
New Delhi, July 4 (TIWN) In a major move towards ease of doing business, new guidelines direct that businesses buying shares or commodities traded through recognised exchanges will not be required to deduct TDS on the transaction.
The Finance Act, 2021 inserted a new section 194Q in the Income-tax Act 1961 which takes effect from July 1, 2021. It applies to any buyer who is responsible for paying any sum to any resident seller for purchase of any goods of the value or aggregate of value exceeding Rs 50 lakh rupees in any previous year.
Add your Comment
Comments (0)
More Business News
- Govt directs NCCF, NAFED to start buying 5 lakh tonnes of onion directly from farmers
- Adani Green Energy Gallery in UK to explore sustainable energy options to fight climate change
- Elon Musk thought that OpenAI would fail: Sam Altman
- India’s forex reserves surge for 3rd week in row to touch $642.5 billion mark
- DGCA imposes Rs 80 lakh fine on Air India for flight duty timing violations