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of <h1>Union Budget 2024-25: Amendment to Clarify TDS Rules, Exclude Section 194J from Section 194C 'Work' Definition. Effective Oct 1, 2024.</h1> The Union Budget 2024-25 proposes an amendment to clarify tax deduction at source (TDS) rules. Currently, Section 194C mandates TDS on contractor payments at 1% for individuals or Hindu Undivided Families (HUF) and 2% for others, while Section 194J covers TDS on professional or technical service fees at rates of 2% or 10%. The amendment aims to prevent misclassification by explicitly excluding sums under Section 194J from being considered 'work' under Section 194C. This change, effective October 1, 2024, seeks to ensure proper tax deductions and widen the tax base.
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