Ak's Blog

  (1) Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any sum by way of—  ( a ) fees for professional services, or  ( b ) fees for technical services, or ( ba ) any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company, or  ( c ) royalty, or  ( d ) any sum referred to in clause ( va ) of section 28, shall, at the time of credit of such sum to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to  10%   of such sum as income-tax on income comprised therein : Provided  that no deduction shall be made under this section— ( A ) from any sums as aforesaid credited or paid before the 1st day of July, 1995; or ( B ) where the amount of such sum or, ...

Any person, not being an individual or a Hindu undivided family, who is responsible for paying, on or after the 1st day of June, 2001, to a resident, any income by way of commission (not being insurance commission referred to in section 194D) or brokerage, shall, at the time of credit of such income to the account of the payee or at the time of payment of such income in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of 5%. Provided  that no deduction shall be made under this section in a case where the amount of such income or, as the case may be, the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year to the account of, or to, the payee, does not exceed Rs 15000. Provided further  that an individual or a Hindu undivided family, whose total sales, gross receipts or turnover from the business or profession carried on by him excee...

 (1) Any person responsible for paying any sum to any resident (hereafter in this section referred to as the contractor) for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract between the contractor and a specified person shall, at the time of credit of such sum to the account of the contractor or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to—  ( i ) 1% where the payment is being made or credit is being given to an individual or a Hindu undivided family; ( ii ) 2% where the payment is being made or credit is being given to a person other than an individual or a Hindu undivided family, of such sum as income-tax on income comprised therein. (2) Where any sum referred to in sub-section (1) is credited to any account, whether called "Suspense account" or by any other name, in the books of account of the person liable to pay ...