Threshold for deduction under section 194C increased, altering withholding applicability for certain payments under the Income tax Act. The Finance Act, 2016 amends the proviso to sub section (5) of section 194C by substituting the words "seventy five thousand rupees" with the words "one ... Summary
Threshold for deduction under section 194C increased, altering withholding applicability for certain payments under the Income tax Act.
The Finance Act, 2016 amends the proviso to sub section (5) of section 194C by substituting the words "seventy five thousand rupees" with the words "one lakh rupees," effective from 1 June 2016.
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