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Union Budget 2025-26 (Full) + Finance Bill, 2025
Section 194H - Commission or brokerage.
Section 194H of the Act requires that any person, not being an individual or a Hindu undivided family, who is responsible for paying, to a resident, any income by way of commission (not being insurance commission referred to in section 194D) or brokerage, shall, deduct income-tax thereon at the rate of two per cent, if the amount paid during a financial year exceeds Rs. 15,000/-.
2. It is proposed to increase this threshold amount for requirement of deduction of tax at source under this section from Rs. 15,000/- to Rs. 20,000/-.
3. This amendment will take effect from the 1st day of April 2025.
[Clause 58]
Full Text:
TDS on commission: threshold for deduction raised, narrowing scope of withholding for small payees next fiscal year Persons other than individuals and HUFs paying commission or brokerage to resident payees must deduct tax at source at a two percent rate where annual payments exceed the prescribed threshold; the Finance Bill proposes to raise that threshold, reducing the number of payments subject to deduction while excluding insurance commission treated under a separate provision, effective from the commencement of the relevant fiscal year. of Press 'Enter' after typing page number.
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