Nirmala Sitharaman Announced 15 Different Measures Today For MSMEs, NBFCs And Others.

Union Finance Minister Nirmala Sitharaman announced relief for middle classes too today as part of the government’s efforts to soften the blow of coronavirus. To allow people more cash in hand, the government has offered a 25 per cent reduction in TDS (Tax Deduction at Source) for non-salaried specified payments and TCS (Tax Collection at Source) for specified receipts, Ms Sitharaman said while announcing the contours of the 20 lakh crore financial package announced by Prime Minister Narendra Modi yesterday to counter the huge financial cost of the coronavirus.This will apply to payment for contract, professional fees, interest, rent, dividend, commission, brokerage, the minister said.