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of <h1>Income Tax Act Update: Section 194-I Threshold for Rent Payments Raised from 180,000 to 240,000 by Finance Act 2019.</h1> Section 194-I of the Income-tax Act has been amended by the Finance Act, 2019. The amendment involves a change in the monetary threshold specified in the first proviso of the section. The previous threshold of 'one hundred and eighty thousand rupees' has been increased to 'two hundred and forty thousand rupees.' This change affects the applicability of tax provisions related to rent payments under the Income-tax Act.
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