Section 194H - Commission or brokerage. Union Budget 2025-26 (Full) + Finance Bill, 2025 - Finance Bill

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