Withholding tax threshold now applies to the amount or aggregate across the financial year, altering when deduction is required. The amendment replaces the phrase "in an amount exceeding ten thousand rupees" with wording treating the threshold as "the amount or aggregate of amounts ... Summary
Withholding tax threshold now applies to the amount or aggregate across the financial year, altering when deduction is required.
The amendment replaces the phrase "in an amount exceeding ten thousand rupees" with wording treating the threshold as "the amount or aggregate of amounts exceeding ten thousand rupees during the financial year," so that withholding obligations depend on cumulative amounts in the financial year rather than solely on individual payments.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.