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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 194C: Tax Deduction Mandate for Payments to Resident Contractors, Effective June 1, 2007</h1> Section 194C of the Income-tax Act was amended by the Finance Act, 2007, effective June 1, 2007. It mandates that any person responsible for paying a resident contractor for work or labor under a contract with various entities, including government bodies, corporations, companies, societies, trusts, universities, firms, or individuals with significant turnover, must deduct income tax at the time of payment. The deduction is 1% for advertising and 2% for other cases. However, individuals or Hindu undivided families are exempt from this requirement for payments made exclusively for personal purposes.
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