https://www.taxtmi.com/acts?id=36822 Section 194M requires certain individuals and Hindu undivided families to deduct tax at a five per cent rate when paying or crediting sums to residents for work, commission/brokerage, or professional services, subject to an aggregate yearly exemption threshold and excluding application of section 203A to such deductors. Section 194N obliges specified banks, co-operative societies and post offices to withhold a lower fixed rate on cash payments from one or more accounts that exceed the statutory cash threshold in a previous year, while enumerating exempt recipient classes and allowing further exemptions by Central Government notification in consultation with the Reserve Bank. en-us Fri, 05 Jul 2019 17:57:50 +0530 Fri, 19 Jul 2019 13:09:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=36822 Section 194M requires certain individuals and Hindu undivided families to deduct tax at a five per cent rate when paying or crediting sums to residents for work, commission/brokerage, or professional services, subject to an aggregate yearly exemption threshold and excluding application of section 203A to such deductors. Section 194N obliges specified banks, co-operative societies and post offices to withhold a lower fixed rate on cash payments from one or more accounts that exceed the statutory cash threshold in a previous year, while enumerating exempt recipient classes and allowing further exemptions by Central Government notification in consultation with the Reserve Bank. Act-Rules Bill Fri, 05 Jul 2019 17:57:50 +0530 https://www.taxtmi.com/acts?id=36822