Commission or brokerage

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....here the amount of such income or, as the case may be, the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year to the account of, or to, the payee, does not exceed^  ^10[twenty thousand rupees]: ^3[Provided further that an individual or a Hindu undivided family, whose total sales, gross receipts or turnover from the business or profession carried on by him exceed ^8[one crore rupees in case of business or fifty lakh rupees in case of profession] during the financial year immediately preceding the financial year in which such commission or brokerage is credited or paid, shall be liable to deduct income-tax under this section:] ^4[Provided also that no deduction shall ....

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.... NOTES:- 1. Inserted vide Section 71 of the Finance Act, 2001 w.e.f. 01-06-2001  Earlier, Inserted vide Section 55 of the Finance (No. 2) Act, 1991 w.e.f. 01-10-1991 And was Amended vide Section 74 of the Finance Act, 1992 w.e.f. 01-06-1992 And was Omitted vide Section 72 of the Finance Act, 1999 w.e.f. 01-04-2000 before it was read as, "194H. Commission, brokerage, etc. (1) Any person, not being an individual or a Hindu undivided family, who is responsible for paying, but before the 1st day of June, 1992, to a resident, any income by way of commission (not being insurance commission referred to in section 194D) or brokerage, shall, at the time of credit of such income to the acco....

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....ssion of accountancy or technical consultancy or interior decoration or such other  profession as is notified by the Board for the purposes of section 44AA; (iii) where any income is credited to any account, whether called "Suspense account" or by any other name, in the books of account of the person liable to pay such income, such crediting shall be deemed to be credit of such income to the account of the payee and the provisions of this section shall apply accordingly." 2. Substituted vide Section 55 of the Finance Act, 2007 w.e.f. 01-06-2007 before it was read as, "five" Earlier, Substituted vide Section 76 of the Finance Act, 2002 w.e.f. 01-06-2002 before it was read as, "ten" 3. Ins....