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of <h1>Tax Deduction Rules for Insurance Commissions: 5-10% Rates Apply, PAN Mandatory, Specific Thresholds and Conditions Outlined in Section 194D</h1> The text details Section 194D of Income Tax Act regarding Tax Deduction at Source (TDS) on insurance commission. It specifies TDS rates for different scenarios: 5% (up to 31.03.2025) for resident individuals, 10% for domestic companies, and 20% without PAN. The threshold limit is Rs. 15,000 until 31.03.2025, increasing to Rs. 20,000 thereafter. Reinsurance is excluded, and special provisions exist for International Financial Services Centre intermediaries. PAN is mandatory for reduced TDS rates.
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