# The Finance Act, 1995, Section 35: Amendment of section 194-1

- Act: The Finance Act, 1995 (Act 22 of 1995)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1995/section/35/

## Text

Amendment of section 194-1. 35. In section 194-1 of the Income-tax Act, in the opening portion, for the words "deduct income-tax thereon at the rate of twenty per cent.", the following shall be substituted with effect from the 1st day of July, 1995, namely:— "deduct income-tax thereon at the rate of— (a) fifteen per cent. if the payee is an individual or a Hindu undivided family; and (b) twenty per cent. in other cases". [Finance Act, 1995] © Copyright. Taxmann Publications Pvt. Ltd.

---
Published by eCourtsIndia together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957.