Section Threshold Limit upto 31st Threshold Limit from 1st May 2016 (Rs.) June 2016 (Rs.) 192A Payment of accumulated balance due to an employee by the trustees of the Employees Provident Fund Scheme , 1952 30,000 50,000 194BB Winnings from Horse Race 5,000 10,000 Aggregate annual limit of Aggregate annual limit of 194C Payments to Contractors 75000 100000 194LA Payment of Compensation on acquisition of certain Immovable Property 2,00,000 2,50,000 194D Insurance commission 20,000 194G Commission on sale of lottery tickets 1,000 15000 194H Commission or brokerage 5,000 15000 Revision in of deduction of tax at source on various payments mentioned in the relevant sections of the Act :- Section TDS Rates up to TDS Rate w.e.f. 31st May 2016 1st June 2016 (%) TDS (%) 194DA Payment in respect of Life Insurance 2% 1% Policy Payments in respect of NSS Deposits 20% 10% 194D Insurance commission 10% 5% 194G Commission on sale of lottery tickets 10% 5% 194H Commission or brokerage 10% 5%
Section Threshold Limit upto 31st May 2016 (Rs.) Threshold Limit from 1st June 2016 (Rs.) 192A Payment of accumulated balance due to an employee by the trustees of the Employees Provident Fund Scheme , 1952 30,000 50,000 194BB Winnings from Horse Race 5,000 10,000 194C Payments to Contractors Aggregate annual limit of 75000 Aggregate annual limit of 100000 194LA Payment of Compensation on acquisition of certain Immovable Property 2,00,000 2,50,000 194D Insurance commission 20,000 194G Commission on sale of lottery tickets 1,000 15000 194H Commission or brokerage 5,000 15000 Revision in of deduction of tax at source on various payments mentioned in the relevant sections of the Act :- Section TDS Rates up to 31st May 2016 TDS (%) TDS Rate w.e.f. 1st June 2016 (%) 194DA Payment in respect of Life Insurance Policy 2% 1% Payments in respect of NSS Deposits 20% 10% 194D Insurance commission 10% 5% 194G Commission on sale of lottery tickets 10% 5% 194H Commission or brokerage 10% 5%
Income-Tax-provisions-applicable-from-1st-June-20161.docx