Tax deduction threshold change: section 194B amended to increase the minimum payment triggering deduction under the income tax law. Amendment substitutes the prior monetary threshold in section 194B of the Income-tax Act-replacing one thousand rupees with five thousand rupees-by the ... Summary
Tax deduction threshold change: section 194B amended to increase the minimum payment triggering deduction under the income tax law.
Amendment substitutes the prior monetary threshold in section 194B of the Income-tax Act-replacing one thousand rupees with five thousand rupees-by the Finance Act, 1986, with effect from the commencement date specified in that Act.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.