TDS threshold increase for interest payments raises the exemption level for deduction at source under income tax law. The Bill substitutes the words 'ten thousand' with 'forty thousand' in clause (i) of sub section (3) of section 194A of the Income tax Act, thereby raising the monetary threshold specified in that provision for the applicability of the clause.
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Provisions expressly mentioned in the judgment/order text.
TDS threshold increase for interest payments raises the exemption level for deduction at source under income tax law.
The Bill substitutes the words "ten thousand" with "forty thousand" in clause (i) of sub section (3) of section 194A of the Income tax Act, thereby raising the monetary threshold specified in that provision for the applicability of the clause.
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