TMI BlogSection 194H - TDS on Commission (other than Insurance Commission) or BrokerageX X X X Extracts X X X X X X X X Extracts X X X X ..... l Year)] who is responsible for paying, any income by way of commission (not being insurance commission u/s 194D ) or brokerage shall deduct income tax thereon. Deductee Any resident Time of Deduction At the time of credit or payment of such income in cash or by the issue of a cheque or draft or by any other mode , whichever is earlier. Rate of TDS 5% Note: No TDS where amount does not exceed 15,0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... work so conducted, the Central Government pays to the banks, through RBI, commission termed as 'Turnover Commission'. [ Circular no. 06/2003 dated 03.09.2003 ] No deduction of tax shall be made under the provisions of section 194H, payment made by any payer to a person being a Unit of International Financial Services Centre in respect of following services If, IFSC is Banking Unit Referra ..... X X X X Extracts X X X X X X X X Extracts X X X X
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