Tax deduction at source rate fixed and non-cash payment rule updated, with higher threshold for TDS applicability. Amendment of section 194 replaces the payment-mode phrase with "by any mode", fixes the deduction rate at "at the rate of ten per cent.", substitutes "any ... Summary
Tax deduction at source rate fixed and non-cash payment rule updated, with higher threshold for TDS applicability.
Amendment of section 194 replaces the payment-mode phrase with "by any mode", fixes the deduction rate at "at the rate of ten per cent.", substitutes "any mode other than cash" for "an account payee cheque" in the first proviso, increases the clause (b) threshold to five thousand rupees, and omits the third proviso.
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