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TMI BlogInsertion of new sections 194M and 194N.X X X X Extracts X X X X X X X X Extracts X X X X ..... ded family. '194M. (1) Any person, being an individual or a Hindu undivided family (other than those who are required to deduct income-tax as per the provisions of section 194C, section 194H or section 194J) responsible for paying any sum to any resident for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract, by way of commission (not being in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... all have the meaning assigned to it in clause (iii) of the Explanation to section 194C; (b) "commission or brokerage" shall have the meaning assigned to it in clause (i) of the Explanation to section 194H; (c) "professional services" shall have the meaning assigned to it in clause (a) of the Explanation to section 194J; (d) "work" shall have the meaning assigned to it in clause (iv) of the E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in this sub-section shall apply to any payment made to,-- (i) the Government; (ii) any banking company or co-operative society engaged in carrying on the business of banking or a post office; (iii) any business correspondent of a banking company or co-operative society engaged in carrying on the business of banking, in accordance with the guidelines issued in this regard by the Reserve Ban ..... X X X X Extracts X X X X X X X X Extracts X X X X
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