Addressing the liquidity issue of many MSMEs, the government has decided to reduce the rates of Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) by how much percent of their existing rates?

Addressing the liquidity issue of many MSMEs, the government has decid

1.	Addressing the liquidity issue of many MSMEs, the government has decided to reduce the rates of Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) by how much percent of their existing rates?
Answer» Addressing the liquidity issue of many micro, small and medium enterprises (MSMEs), the government has decided to reduce the rates of Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) by 25 per cent of their existing rates. This will release Rs 50,000 crore additional liquidity for businesses, says Finance Minister Nirmala Sitharaman while announcing the first tranche of the Rs 20 lakh-crore stimulus package.