Major Tax Rule Changes: Income Tax, STT, TDS Rates, And Aadhaar Card Requirements Set For Major Overhaul Starting October 1, 2024 | Paisa Live

Starting from October 1, 2024, several tax-related changes, introduced in the financial year 2024-25 budget, will come into effect. One key update is the increase in the Securities Transaction Tax (STT) for future and options trading, rising from the current 0.1% to 0.02%, leading to higher taxes for investors. Additionally, from October 1, 2024, shareholders will be taxed on profits earned from share buybacks, similar to dividend taxation. A 10% TDS will be levied on central and state government bonds, including floating rate bonds. The TDS rate for e-commerce operators will be reduced from 1% to 0.1%. Also, under the 'Direct Tax Vivad Se Vishwas' scheme, pending income tax cases will be settled. However, the provision to use Aadhaar enrollment ID instead of the Aadhaar number for tax-related applications will not be implemented.