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<h1>Director of Income Tax Issues Circular on Deducting Tax at Source from Insurance Commissions u/s 194D for 1981-82.</h1> The circular issued by the Director of Income Tax outlines the procedures for deducting income tax at source from insurance commissions under Section 194D of the Income-tax Act, 1961, for the financial year 1981-82. It specifies tax deduction rates for different entities, including domestic and non-resident companies. The document details the definition of 'insurance commission,' the timing of deductions, and the process for remitting deducted taxes to the government. It also provides instructions on using specific chalan forms for payments, rounding off tax amounts, and issuing certificates to payees. Additionally, it describes the reporting requirements for those responsible for tax deductions.