Withholding tax threshold increased for interest payments; residential payments now require eligibility under section 36 clause for withholding exemption.

Amendment raises the withholding tax threshold in sub-section (3), clause (i) of section 194A effective 1 June 2000 and revises the proviso to clause (c) to treat payments "for residential purposes" as payments "for residential purposes and which is eligible for deduction under clause (viii) of sub-section (1) of section 36," thereby conditioning the residential payment exception on eligibility for that deduction.

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