Threshold exemption for withholding tax: section 197A inapplicable when aggregate specified income exceeds basic exemption limit. The amendment adds a provision that the withholding provisions of section 197A shall not apply where the amount of specified incomes, or their aggregate as credited, paid or likely to be credited or paid during the previous year in which such income is to be included, exceeds the maximum amount which is not chargeable to income-tax.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Threshold exemption for withholding tax: section 197A inapplicable when aggregate specified income exceeds basic exemption limit.
The amendment adds a provision that the withholding provisions of section 197A shall not apply where the amount of specified incomes, or their aggregate as credited, paid or likely to be credited or paid during the previous year in which such income is to be included, exceeds the maximum amount which is not chargeable to income-tax.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
