Deduction of income-tax at source-Section 194D of the Income-tax Act, 1961-Deduction from insurance commission, etc.-Rate of tax applicable during the financial year 1986-87
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Tax deduction at source on insurance commission requires specified resident and non-resident withholding rates under income-tax rules. Deduction of income-tax at source is required on payments by way of insurance commission, with distinct withholding rates for resident persons and ... Summary
Tax deduction at source on insurance commission requires specified resident and non-resident withholding rates under income-tax rules.
Deduction of income-tax at source is required on payments by way of insurance commission, with distinct withholding rates for resident persons and domestic companies and higher specified withholding for non-resident persons and non-domestic companies; section 195 governs deduction from payments to non-residents and the higher applicable schedule rate must be applied where relevant.
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