Withholding threshold under section 194BB increases, raising the minimum payment that triggers tax deduction effective mid 2010. Amendment increases the withholding threshold under section 194BB of the Income-tax Act by substituting the previous monetary trigger with a higher specified amount, enacted by the Finance Act, 2010 and operating from the notified effective date, thereby modifying the statutory cutoff that determines applicability of the tax deduction obligation.
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Provisions expressly mentioned in the judgment/order text.
Withholding threshold under section 194BB increases, raising the minimum payment that triggers tax deduction effective mid 2010.
Amendment increases the withholding threshold under section 194BB of the Income-tax Act by substituting the previous monetary trigger with a higher specified amount, enacted by the Finance Act, 2010 and operating from the notified effective date, thereby modifying the statutory cutoff that determines applicability of the tax deduction obligation.
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