Income Tax Act, 2025
Section 3: Subs. by Act 20 of 2015, s. 44, for “on furnishing of” (w.e.f. 12015).
3. Subs. by Act 20 of 2015, s. 44, for “on furnishing of” (w.e.f. 12015).
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(l) any person, being an individual or a Hindu undivided family or an association of persons
or a body of individuals, if such person,—
(A) does not fall under any of the preceding sub-clauses; and
(B) is liable to audit of accounts under clause (a) or clause (b) of section 44AB during the
financial year immediately preceding the financial year in which such sum is credited or paid
to the account of the contractor;
(ii) “goods carriage” shall have the meaning assigned to it in the Explanation to sub-section (7)
of section 44AE;
(iii) “contract” shall include sub-contract;
(iv) “work” shall include—
(a) advertising;
(b) broadcasting and telecasting including production of programmes for such broadcasting
or telecasting;
(c) carriage of goods or passengers by any mode of transport other than by railways;
(d) catering;
(e) manufacturing or supplying a product according to the requirement or specification of a
customer by using material purchased from such customer,
but does not include manufacturing or supplying a product according to the requirement or specification
of a customer by using material purchased from a person, other than such customer.]
1[194D. Insurance commission.—Any person responsible for paying to a resident any income by
way of remuneration or reward, whether by way of commission or otherwise, for soliciting or procuring
insurance business (including business relating to the continuance, renewal or revival of policies of
insurance) shall, at the time of credit of such income 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 incometax thereon at the rates in force :
Provided that no deduction shall be made under this section from any such income credited or paid
before the 1st day of June, 1973:]
2[Provided further 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 3[fifteen thousand rupees].]
4[194DA. Payment in respect of life insurance policy.—Any person responsible for paying to a
resident any sum under a life insurance policy, including the sum allocated by way of bonus on such
policy, other than the amount not includible in the total income under clause (10D) of section 10, shall, at
the time of payment thereof, deduct income-tax thereon at the rate of 5[one per cent.]:
any person, being an individual or a Hindu undivided family or an association of persons
or a body of individuals, if such person,—
does not fall under any of the preceding sub-clauses; and
is liable to audit of accounts under clause
or clause
of section 44AB during the
financial year immediately preceding the financial year in which such sum is credited or paid
to the account of the contractor;
“goods carriage” shall have the meaning assigned to it in the Explanation to sub-section
of section 44AE;
“contract” shall include sub-contract;
“work” shall include—
advertising;
broadcasting and telecasting including production of programmes for such broadcasting
or telecasting;
carriage of goods or passengers by any mode of transport other than by railways;
catering;
manufacturing or supplying a product according to the requirement or specification of a
customer by using material purchased from such customer,
but does not include manufacturing or supplying a product according to the requirement or specification
of a customer by using material purchased from a person, other than such customer.]
1[194D. Insurance commission.—Any person responsible for paying to a resident any income by
way of remuneration or reward, whether by way of commission or otherwise, for soliciting or procuring
insurance business (including business relating to the continuance, renewal or revival of policies of
insurance) shall, at the time of credit of such income 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 incometax thereon at the rates in force :
Provided that no deduction shall be made under this section from any such income credited or paid
before the 1st day of June, 1973:]
2[Provided further 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 3[fifteen thousand rupees].]
4[194DA. Payment in respect of life insurance policy.—Any person responsible for paying to a
resident any sum under a life insurance policy, including the sum allocated by way of bonus on such
policy, other than the amount not includible in the total income under clause
of section 10, shall, at
the time of payment thereof, deduct income-tax thereon at the rate of 5[one per cent.]: