#Section 194D
Log in to FollowSection 194D of the Income Tax Act pertains to the deduction of tax at source (TDS) on insurance commission. It mandates that any person responsible for making payment of insurance commission exceeding a specified threshold must deduct TDS at the prescribed rate before making the payment. The section provides guidelines on the rate of TDS, the threshold limit, and the reporting and depositing of the deducted tax. Understanding Section 194D is crucial for insurance companies, agents, and policyholders to ensure compliance with TDS regulations and avoid penalties. This description provides an overview of Section 194D and its implications for TDS on insurance commission payments.
CA, CS, CMA
CA, CS, CMA
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Budget 2025: Increase in TDS Threshold for Section 194D Insurance Commission
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Budget 2024: Lower Sections 194D & 194DA TDS Rates for Insurance Payments
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Important provisions of Tax Deducted at Source
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Income Tax
TDS Rate Chart for FY 2023-2024 (AY 2024-2025)
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