Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Bill - Highlights / Catch Notes

Home Highlights March 2016 Year 2016 This

Amendment of section 194D. - TDS - where the amount of such ...


Section 194D Amendment: TDS Threshold for Insurance Commissions Reduced from Rs. 20,000 to Rs. 15,000 Per Financial Year.

March 2, 2016

Act Rules     Bill

Amendment of section 194D. - TDS - where the amount of such income, or the aggregate of the amount of the income, relating to remuneration or reward, whether by way of commission or otherwise, for soliciting or procuring insurance business, credited or paid during the financial year to the account of, or to, the payee - the threshold limit from twenty thousand rupees to fifteen thousand rupees.

View Source

 


 

You may also like:

  1. Section 194D mandates deduction of tax at source (TDS) on insurance commission payments to residents. Currently, the TDS rate is 5% for non-corporate entities. It is...

  2. Demand Interest u/s 201(1A) - Non deduction TDS u/s 194IA - As per the sale deed the details of the sellers / transferors of the said property and in fact the sellers...

  3. ICAI's Suggestions for Review of Income Tax Act, 1961: Tax Deducted at Source (TDS) prosecution proceedings are appropriate only where deductors deliberately do not...

  4. CESTAT upheld reclassification of imported high conductivity copper bus bars from CTI 7407 21 20 to CTI 7407 10 30, resulting in denial of FTA benefits under N/N....

  5. Court set aside auction sale on equitable grounds as entire amount due was deposited by respondents. Appellant deprived of using Rs.81,20,000 from 21.07.2019 till...

  6. The case involves imposition of penalty on a Customs House Agent (CHA) u/s 114 (iii) of the Customs Act 1962 for misusing drawback benefit through fraudulent exports....

  7. Maintainability of appeal of the assessee - threshold amount involved in the appeal - disputed amount is less than Rs.2,00,000/- - the appellant failed to appeared for...

  8. The CESTAT held that the imported betel nuts were rightly classified under CTH 0802 8030. While the minimum import price fixed by DGFT could not be treated as tariff...

  9. SC upheld the Tribunal's compensation award in a motor accident death claim, restoring Rs. 58,24,000/- for father and Rs. 93,61,000/- for mother against claimed amounts...

  10. Appellant failed to submit required documents within stipulated time for provisional duty assessment, contravening Customs (Provisional Duty Assessment) Regulations,...

  11. Amendment to rules governing salary, allowances and service conditions of Chairperson and members of Insolvency and Bankruptcy Board of India. Key changes: Chairperson's...

  12. TDS u/s 194H - Higher rate of TDS @20% in absence of PAN - Commission paid to Primary Agriculture Cooperative Society (PACS) - The Tribunal examined the nature of...

  13. TDS u/s 194D - ceading commission - soliciting or procuring insurance business - As per the facts of the present case, the cedant commission paid by the assessee to the...

  14. Applicability of the Foreign Exchange Regulation Act (FERA) provisions to a non-resident bank and its CEO. The bank was charged with contravening sections 64(2), 6(4),...

  15. The circular addresses the Reduction of Government Litigation by setting monetary limits for filing appeals before GSTAT, High Courts, and Supreme Court. It refers to...

 

Quick Updates:Latest Updates