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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
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15-3-2010
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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 with effect from 1-7-2010 as under:
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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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