Section 194M requires certain individuals and HUFs who are not required to deduct tax under other sections to deduct TDS on payments for contract work, commission, brokerage, or professional services when annual payments cross the notified limit.
Deductor checklist
- Track cumulative payments to each payee in the financial year
- Deduct TDS at the applicable rate when threshold is crossed
- Deposit challan and file quarterly Form 26Q
- Issue TDS certificate to contractors and professionals
See 194C contractor TDS, 194J professional fees, and TDS return filing.
