Tax reforms in Covid-19 package: TDS rate cut by 25%

Union Finance Minister Nirmala Sitharaman on Wednesday announced tax reforms as part of the Covid-19 package to revive economy. The governemnt has cut TDS (tax deduction at source) rates by 25 per cent for non-salaried section. She said this change in TDS rates will be applicable from May 14, that is, tomorrow. She said with this move the government aims to infuse Rs 50,000 crores liquidity in the hands of the people. Watch this video for more details.