Insurance commission withholding threshold reduced, increasing occasions when tax must be deducted on commission or reward payments. The amendment lowers the monetary threshold in the second proviso of section 194D governing non-deduction of tax at source on remuneration or reward by way of commission for soliciting or procuring insurance business, thereby increasing the situations in which tax must be deducted without altering the underlying withholding mechanism or the category of payments covered.
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Provisions expressly mentioned in the judgment/order text.
Insurance commission withholding threshold reduced, increasing occasions when tax must be deducted on commission or reward payments.
The amendment lowers the monetary threshold in the second proviso of section 194D governing non-deduction of tax at source on remuneration or reward by way of commission for soliciting or procuring insurance business, thereby increasing the situations in which tax must be deducted without altering the underlying withholding mechanism or the category of payments covered.
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