New Delhi: Many rules related to the stock market, tax, and Aadhar card are going to change from October 1, 2024. These changes will affect your investment and tax. Let us know in detail.

Security Transaction Tax (STT) will increase on futures and options trading.

If you do Futures and Options (F&O) trading in the stock market, then from October 1, 2024, you will have to pay more Security Transaction Tax (STT). Till now it was 0.1%, but now it has been increased to 0.02%. This means that trading in derivatives will now become more expensive than before.

Tax on share buyback

Now if a company buys back shares, then tax will be levied on that as well. From October 1, the profit earned on share buyback will have to be taxed like dividends. Investors will have to bear the impact of this keeping in mind capital gain or loss.

TDS deduction on floating rate bonds

If you have invested in floating rate bonds of the central or state government, then from October 1, 2024, you will have to pay 10% TDS. If your investment is earning more than Rs 10,000, then TDS will be deducted from it. TDS will not be deducted on earning less than Rs 10,000.

Change in TDS rates

Some rules related to TDS are also changing. TDS rates under sections 19DA, 194H, 194-IB, and 194M have been reduced from 5% to 2%. TDS for e-commerce operators has been reduced from 1% to 0.1%, which will provide some relief to this sector.

Changes in rules related to Aadhaar

To prevent misuse of PAN cards, it will be mandatory to provide an Aadhaar number directly instead of an Aadhaar enrollment ID from October 1, 2024. Earlier you could also file an income tax return with your Aadhaar enrollment ID, but now this provision is being removed.

Direct Tax Vivaad se Vishwas Scheme 2024

To resolve income tax-related disputes, 'Direct Tax Vivaad se Vishwas Scheme 2024' will come into effect from October 1. Its purpose is to settle pending tax cases as soon as possible.

All these changes will come into effect from October 1, 2024, which will directly affect investors, traders,s and the general public.