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<h1>Income Tax Deduction Guidelines for Insurance Commissions u/s 194D for FY 1983-84 Announced by CBDT.</h1> The circular issued by the Central Board of Direct Taxes outlines the procedures for the deduction of income tax at source from insurance commissions under Section 194D of the Income-tax Act, 1961, for the financial year 1983-84. It specifies tax deduction rates for residents and non-residents, with different rates for individuals and companies. The document details the process for tax payment, including the use of specific challan forms, and mandates the issuance of certificates to payees. It also allows recipients to apply for a certificate to adjust tax deduction rates. Compliance with these instructions is emphasized for accurate tax accounting.