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of <h1>Section 194C: Tax Deduction Rules for Contractor Payments, Exemptions, and Definitions Explained for Businesses and Individuals.</h1> Section 194C of the Income-tax Act, effective October 1, 2009, mandates tax deduction at source on payments to contractors. A 1% deduction applies to payments to individuals or Hindu undivided families, while a 2% deduction applies to other entities. No deduction is required for payments under INR 20,000, unless the annual aggregate exceeds INR 50,000. Exemptions include personal payments by individuals or Hindu undivided families and payments for goods carriage with a provided Permanent Account Number. The section outlines specific definitions for terms like 'specified person,' 'contract,' and 'work,' covering activities such as advertising, broadcasting, and catering.
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