TDS on individual and HUF payments to contractors and professionals: new withholding applies above threshold; PAN may be used instead of TAN. Section 194M imposes withholding on payments by individuals and Hindu undivided families to resident contractors and professionals where the aggregate ... Summary
TDS on individual and HUF payments to contractors and professionals: new withholding applies above threshold; PAN may be used instead of TAN.
Section 194M imposes withholding on payments by individuals and Hindu undivided families to resident contractors and professionals where the aggregate annual payments exceed the statutory threshold; tax is to be deducted at the prescribed withholding rate and may be deposited using the payer's Permanent Account Number, relieving such payers from the requirement to obtain a Tax Deduction Account Number.
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TaxTMI 
TaxTMI 
