Tax Deducted at Source (TDS) on insurance commission for non-corporates reduced from 5% to 2% from Apr 1, 2025.

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....Section 194D mandates deduction of tax at source (TDS) on insurance commission payments to residents. Currently, the TDS rate is 5% for non-corporate entities. It is proposed to reduce this TDS rate from 5% to 2% for non-corporate recipients, effective April 1, 2025. This amendment aims to rationalize and simplify taxation of capital gains.....