Threshold for deduction under section 194BB increased, changing applicability of withholding with effect from June 1, 2016. Amendment increases the monetary threshold triggering withholding under section 194BB of the Income-tax Act, substituting the prior lower threshold with a ... Summary
Threshold for deduction under section 194BB increased, changing applicability of withholding with effect from June 1, 2016.
Amendment increases the monetary threshold triggering withholding under section 194BB of the Income-tax Act, substituting the prior lower threshold with a higher figure and thereby narrowing the circumstances in which tax is required to be withheld at source from specified winnings, with effect from 1 June 2016.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.