https://www.taxtmi.com/acts?id=43603 The amendment lowers the withholding rate under section 194M for payments by an individual or Hindu undivided family to a resident for carrying out work (including supply of labour), by way of commission, brokerage or professional fees. The obligation to deduct at the time of credit or payment remains; only the rate is reduced from five per cent to two per cent. The change is prospective and takes effect from 1st October, 2024. en-us Tue, 23 Jul 2024 15:50:44 +0530 Tue, 23 Jul 2024 15:50:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=43603 The amendment lowers the withholding rate under section 194M for payments by an individual or Hindu undivided family to a resident for carrying out work (including supply of labour), by way of commission, brokerage or professional fees. The obligation to deduct at the time of credit or payment remains; only the rate is reduced from five per cent to two per cent. The change is prospective and takes effect from 1st October, 2024. Act-Rules Bills Tue, 23 Jul 2024 15:50:44 +0530 https://www.taxtmi.com/acts?id=43603