The TDS rate for payments under sections *194DA, 194H, 194-IB, and 194M* is reduced from 5% to 2%.
*Section 194DA* - Payment in respect of life insurance policy is reduced from 5% to 2%.
Section 194G* – Commission etc on sale of lottery tickets is reduced from 5% to 2%.
Section 194H* – TDS on Commission or Brokerage is reduced from 5% to 2%.
Section 194-IB* - Payment of rent by certain individuals or HUF is reduced from 5% to 2%.
Section 194M* - Payment of certain sums by certain individuals or Hindu undivided families is reduced from 5% to 2%.
Section 194-O* - Payment of certain sums by e-commerce operators to e-commerce participants is reduced from 1% to 0.1%.
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