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Home News Commentaries / Editorials Month 3 2010 2010 (3) This

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The Finance Bill has proposed to raise the threshold limit for payments mentioned in sections 194B, 194BB, 194C, 194D, 194H, 194-I and 194J

15-3-2010

Contents

The Finance Bill has proposed to raise the threshold limit for payments mentioned in sections 194B, 194BB, 194C, 194D, 194H, 194-I and 194J with effect from 1-7-2010 as under:

Sl. No.	Section	Nature of Payment	Existing threshold limit of payment (Rupees)	Proposed threshold limit of payment (Rupees)
1.	194B	Winnings from lottery or crossword puzzle	5,000	10,000
2.	194BB	Winnings from horse race	2,500	5,000
3.	194C	Payment to contractors	20,000 (single transaction) 50,000 (aggregate of transactions during financial year)	30,000 (single transaction) 75,000 (aggregate of transactions during financial year)
4.	194D	Insurance commission	5,000	20,000
5.	194H	Commission or Brokerage	2,500	5,000
6.	194-I	Rent	1,20,000	1,80,000
7.	194J	Fees for professional or technical services	20,000	30,000

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