TDS on mutual fund income: exemption threshold increased, reducing withholding obligations for low-value unit payments. The Bill amends the proviso to clause (i) of section 194K so that no tax shall be required to be deducted where the amount of income in respect of units, or the aggregate of such amounts credited or paid or likely to be credited or paid during the financial year by the payer to the payee, does not exceed the higher threshold prescribed by the amendment; the amendment takes effect from the start of the stated financial year.
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TDS on mutual fund income: exemption threshold increased, reducing withholding obligations for low-value unit payments.
The Bill amends the proviso to clause (i) of section 194K so that no tax shall be required to be deducted where the amount of income in respect of units, or the aggregate of such amounts credited or paid or likely to be credited or paid during the financial year by the payer to the payee, does not exceed the higher threshold prescribed by the amendment; the amendment takes effect from the start of the stated financial year.
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