Tax deduction at source from insurance commission required; payers must withhold, remit, and report under prescribed procedures. Deduction of tax at source is required on income by way of insurance commission (remuneration for soliciting or procuring insurance business). Payers must deduct tax when commission is credited or paid, make remittance to the Government treasury or designated banks within prescribed timeframes, apply rounding rules, and may not adjust deductions for prior debits in the agent's account. Recipients can seek lower or nil deduction via Form No.13D; payers must issue Form No.19D and file Forms No.26D, 26E and 26F as prescribed. Higher withholding rules under section 195 apply to non residents and non domestic companies.
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Provisions expressly mentioned in the judgment/order text.
Tax deduction at source from insurance commission required; payers must withhold, remit, and report under prescribed procedures.
Deduction of tax at source is required on income by way of insurance commission (remuneration for soliciting or procuring insurance business). Payers must deduct tax when commission is credited or paid, make remittance to the Government treasury or designated banks within prescribed timeframes, apply rounding rules, and may not adjust deductions for prior debits in the agent's account. Recipients can seek lower or nil deduction via Form No.13D; payers must issue Form No.19D and file Forms No.26D, 26E and 26F as prescribed. Higher withholding rules under section 195 apply to non residents and non domestic companies.
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