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of <h1>Income Tax Bill 2025 Clause 393(1) maintains 2% TDS on payments exceeding Rs 50 lakh for individuals and HUFs</h1> The Income Tax Bill 2025's Clause 393(1) continues the policy framework established by Section 194M of the Income Tax Act 1961, requiring individuals and Hindu Undivided Families to deduct tax at source on high-value payments. The provision mandates 2% TDS on payments exceeding Rs. 50 lakh annually for contractual work, professional services, and commission/brokerage. It applies to individual/HUF payers not otherwise required to deduct TDS under main business provisions. The clause maintains the same threshold and rate as current Section 194M but integrates into a comprehensive tabular TDS framework. Key features include exemption for personal-purpose payments and simplified compliance procedures. The provision aims to widen the tax base by capturing substantial non-business transactions while avoiding overlap with existing TDS sections.
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