Web21 Jul 2024 · Section 194DA of the Income Tax Act, 1961 covers the person making payment to a resident person any sum under the life insurance policy. It is important to … Web25 Jul 2024 · Section 194H of the Income Tax Act, 1961 requires the Deductor to deduct TDS within earlier of the following dates – At the time of credit of commission or …
Section 194D – TDS on Insurance Commission - ClearTax
Web12 Jul 2024 · Scope of Section 194R The TDS to be charged under Section 194R is at 10%, which will come into effect from July 1, 2024. It applies only to resident recipients (receiver of a benefit) of benefits or perquisites. Web5 Jul 2024 · Analysis of Section 194R of the Income-tax Act, 1961. The Finance Act, 2024, introduced Section 194R, which pertains to the deduction of tax on benefits or perquisites … husky shepherd mix for adoption
Section 194H – TDS on Commission and Brokerage - ClearTax
Section 194D basically covers TDS on insurance commission. Any payments made by way of : 1. any remuneration/reward in the form of commission or otherwise , 2. For procuring insurance business (including business relating to the continuance, renewal or revival of policies of insurance) . The deduction must … See more Any person who makes a payment to a resident Indian in the form of remuneration or reward as part of the insurance business … See more Tax need not be deducted from the amount the payer credits to the payee’s account in the following cases: 1. The commission paid is … See more Tax is deducted at the earlier of the following cases: 1. At the time of credit of commission in the payee’s account. 2. When the actual … See more Any payment to be made to a resident Indian upon the maturity of a life insurance policy including the bonus, other than the amount included in the total income under clause (10D) of … See more Web19 Apr 2024 · Section 281 exists in order to restrict the chances of assessees transferring their assets to evade taxes. One must note that Section 281 is only applicable when the tax amount or other surcharge is more than Rs. 5,000. On top of this, the value of assets charged or transferred should exceed Rs. 10,000. Web8 Mar 2024 · Chapter XVII (Sections 190 to 234G) of the Income Tax Act 1961 deals with the provisions related to collection and recovery of tax. Section 194D of IT Act 1961 provides … husky shepherd mix near me