Tax deduction at source threshold increased for small payments and payers may adjust prior deduction errors within the year. The amendment to Section 194A replaces the small payment exemption in sub section (3)(i) to exempt income or aggregate payments below a prescribed threshold, inserts an exemption for Central Government payments under specified statutes, and adds sub section (4) allowing payers to adjust current deductions to rectify excesses or deficiencies from earlier deductions within the same financial year. A transitional rule limits application of penalty provisions for certain failures to deduct on specified interest payments made in a defined interim period where individual payments do not exceed a lower specified amount.