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of <h1>Finance Bill 2016: Section 194H amendment cuts tax deduction rate on commission income to 5%, raises threshold to 15,000.</h1> Clause 77 of the Finance Bill, 2016 proposes amendments to section 194H of the Income-tax Act, impacting commission or brokerage income. The amendment reduces the tax deduction rate from ten percent to five percent. Additionally, it raises the threshold for tax deduction applicability from five thousand rupees to fifteen thousand rupees. These changes are set to be effective from June 1, 2016.
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