{"act":{"id":"finance-act-2002","short_title":"The Finance Act, 2002","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2002-2003.","act_number":null,"act_year":2002,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":124,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2002/"},"unit":"section","section":{"number":"76","heading":"Amendment of section 194H","text":"Amendment of section 194H. 76. In section 194H of the Income-tax Act, with effect from the 1st day of June, 2002,— (a ) for the words \"ten per cent\", the words \"five per cent\" shall be substituted; (b ) after the proviso and before the Explanation , the following proviso shall be inserted, namely:— \" 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 exceed the monetary limits specified under clause (a) or clause (b) of section 44AB during the financial year immediately preceding the financial year in which such commission or brokerage is credited or paid, shall be liable to deduct income-tax under this section.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 194H.</b></p><p><b>76.</b> In section 194H of the Income-tax Act, with effect from the 1st day of June, 2002,—</p><p>(<i>a</i> ) for the words \"ten per cent\", the words \"five per cent\" shall be substituted;</p><p>(<i>b</i> ) after the proviso and before the <i>Explanation</i> , the following proviso shall be inserted, namely:—</p><p>\" <b>Provided further </b>that an individual or a Hindu undivided family, whose total sales, gross receipts or turnover from the business or profession carried on by him exceed the monetary limits specified under clause (<i>a</i>) or clause (<i>b</i>) of section 44AB during the financial year immediately preceding the financial year in which such commission or brokerage is credited or paid, shall be liable to deduct income-tax under this section.\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":129,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2002/section/76/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}