The Finance Act, 2024, has introduced a new Tax Deducted at Source (TDS) rate for the financial year 2024-25 (from April 1, 2024, to March 31, 2025). Using the correct TDS rate is important for businesses to ensure proper tax compliance and avoid penalties. The government relies on TDS as a way to collect taxes at the source of income. Using the correct rate ensures you meet your tax obligations and avoid the hassle of dealing with notices or penalties from the Income Tax department

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