Tax deduction at source: amendment lowers age threshold and establishes notification-based exemption from withholding tax. Amendment reduces the qualifying age threshold from sixty-five years to sixty years and inserts a provision that no tax shall be deducted at source from ... Summary
Tax deduction at source: amendment lowers age threshold and establishes notification-based exemption from withholding tax.
Amendment reduces the qualifying age threshold from sixty-five years to sixty years and inserts a provision that no tax shall be deducted at source from specified payments to institutions, associations or bodies or classes thereof as notified by the Central Government, thereby creating a notification-based exemption and modifying withholding obligations.
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