TDS on Incentive and commission paid to agents of LIC

This query is : Resolved 

01 June 2008 hi,
please help in finding whether TDS is to be deducted both on Incentive and commission paid seperately to agents of LIC under Section 194(d) or whether any seperate section is applicable for TDS on incentive,please Quote the relevant section,hope somebody will me out in this matter.


regards

vikas




02 June 2008 Any person, not being an individual or a Hindu undivided family, who is responsible for paying, any income by way of commission (not being insurance commission referred to in Section 194D ) or brokerage, shall, deduct income-tax thereon at applicable rates.
Professional services means services rendered by a person in the course of carrying on a legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or such other profession as is notified by the Board for the purposes




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries