Tds on commission received from lic
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 May 2012
I received Rs 9500/- agent commission from LIC in last year 2011-12. Can Tds is deductable from my agent commission ?
09 May 2012
Insurance Commission limit is increased from Rs. 5000/- to Rs. 20000/- from 01.07.2010, so no TDS is required to be deducted.
if no PAN is provided then TDS to be deducted at high rate of 20%
However if tds is already errorneously deducted, then take Form 16A from the Company and claim TDS in ITR
if no PAN is provided then TDS to be deducted at high rate of 20%
However if tds is already errorneously deducted, then take Form 16A from the Company and claim TDS in ITR
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 May 2012
Thanks sir
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