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of <h1>Income Tax Bill 2025 modernizes contractor payment TDS under Clause 393, raising thresholds to Rs 30,000</h1> The Income Tax Bill, 2025 proposes modernizing TDS provisions for contractor payments through Clause 393(1) and 393(4), replacing Section 194C of the 1961 Act. The new framework maintains core TDS rates of 1% for individuals/HUFs and 2% for other entities, while raising single-payment thresholds to Rs. 30,000 and preserving Rs. 1,00,000 aggregate limits. Key exemptions continue for small transport contractors owning ten or fewer goods carriages and personal payments by individuals/HUFs. The Bill requires enhanced procedural compliance including declarations and reporting to tax authorities. While preserving essential TDS mechanics, the modernized structure aims to reduce compliance burdens for smaller transactions while maintaining tax collection integrity and audit trails.
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