Section 194D – Insurance commission Union Budget 2025-26 (Full) + Finance Bill, 2025 - Finance Bill

Union Budget 2025-26 (Full) + Finance Bill, 2025 Section 194D Insurance commission Section 194D of the Act requires that any person responsible for paying to a resident any income by way of remuneration or reward, whether by way of commission or otherwise, for soliciting or procuring insurance business (including business relating to the continuance, renewal or revival of policies of insurance) shall, deduct income-tax thereon at the rates in force, provided that the amount of such payment exceeds Rs. 15,000/- in a financial year. 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 56] Full Text : Union Budget 2025-26 (Full) + Finance Bill, 2025