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of <h1>Finance Bill 2025-26: Insurance Commission Tax Rate Drops to 2% Under Section 194D; Other Rates Unchanged</h1> The Union Budget 2025-26 outlines the rates for deduction of income tax at source for the financial year 2025-26, excluding salaries. The Finance Bill specifies these rates under sections like 193, 194A, and 195. Notably, the tax rate on insurance commission will decrease from 5% to 2% starting April 1, 2025, due to amendments in section 194D. Other rates remain consistent with those from the Finance (No. 2) Act, 2024. The surcharge on income tax and the Health and Education Cess, at 4%, continue unchanged for non-residents and non-domestic companies.
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