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Increasing threshold limit from 75000 to 1 lakh

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 May 2016 Dear Experts
The threshold u/s 194C become increase
From 75000 to 1 Lakh, plz provide the amended section, circular etc. For the
Same....

Regard
Ankur singh
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
01 May 2016 The Finance Bill 2016 once pass in the Rajya Sabha the amended section will be available at the Income Tax Site https://www.incometaxindia.gov.in

The amendment is as below:

In section 194C of the Income-tax Act, in sub-section (5), in the proviso, for the words “seventy-five thousand rupees”, the words “one lakh rupees” shall be substituted with effect from the 1st day of June, 2016.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
01 May 2016 It will be effected from 01.06.2016. Please check back. Refer TDS changes budget 2016 in my shared file.
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