Section 194H - Commission or brokerage.

Union Budget 2025-26 (Full) + Finance Bill, 2025

Section 194H - Commission or brokerage.

Section 194H of the Act requires that any person, not being an individual or a Hindu undivided family, who is responsible for paying, to a resident, any income by way of commission (not being insurance commission referred to in section 194D) or brokerage, shall, deduct income-tax thereon at the rate of two per cent, if the amount paid during a financial year exceeds Rs. 15,000/-.

2. It is proposed to increase this threshold amount for requirement of deduction of tax at source under this section from Rs. 15,000/- to Rs. 20,000/-.

3. This amendment will take effect from the 1st day of April 2025.

[Clause 58]

Full Text:

Union Budget 2025-26 (Full) + Finance Bill, 2025

Dated: 1-2-2025