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of <h1>Amendment to Finance Bill 2010: Section 194D raises tax deduction threshold for insurance commissions from 5,000 to 20,000.</h1> Clause 38 of the Finance Bill, 2010 proposes an amendment to section 194D of the Income-tax Act concerning insurance commission. The amendment increases the threshold for non-deduction of income tax from five thousand rupees to twenty thousand rupees. This change applies to the remuneration or reward, such as commission, credited or paid for soliciting or procuring insurance business. The amendment is set to take effect from July 1, 2010.
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