Applicability of Section 194 D

[Rahul Bagaria]

Hi

Section 194D is attracted for paying any form of remuneration to insurance agent (Cash / Kind)

Can someone suggest any way through tax planning if gifts / rewards / RnR can be avoided for TDS while distributing the same to these agents.

Thanks

Rahul

 

AI Summary

Section 194D TDS Mandate: Exploring Tax Planning Strategies for Insurance Agent Gifts and Rewards A discussion was initiated regarding the applicability of Section 194D of the Income Tax Act, which mandates tax deduction at source (TDS) on any form of remuneration to insurance agents, including cash or kind. The query sought advice on tax planning strategies to avoid TDS on gifts or rewards given to agents. A response suggested that the recipient could apply to their Assessing Officer (AO) for a lower deduction of tax.