Deduction of income-tax at source: insurance commission TDS rate reduced, other TDS rates and surcharges largely retained Deduction of income-tax at source for FY 2025-26 is set out in Part II of the First Schedule to the Finance Bill, 2025, with section-specific provisions ... Summary
Deduction of income-tax at source: insurance commission TDS rate reduced, other TDS rates and surcharges largely retained
Deduction of income-tax at source for FY 2025-26 is set out in Part II of the First Schedule to the Finance Bill, 2025, with section-specific provisions continuing to govern TDS mechanics. The rate for taxation of insurance commission is reduced pursuant to amendments in the Finance (No. 2) Act, 2024 effective from 1 April 2025. Other TDS rates remain as specified in the prior Act, surcharge treatment is unchanged, and Health and Education Cess is levied at four per cent on income-tax including surcharge where applicable for non-residents and non-domestic companies.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
