Hii
I wanted to ask about TDS on Commission..
How can pay TDS on Commission & how to file return for the same..
Please share if any link to pay TDS on Commission & which Challan No./Form No is applicable for the same.
Harshali
4 Replies
Vikas Gupta
(Tax Executive)
(530 Points)
Replied 25 May 2016
Section 194H of Income Tax 1961 deals with TDS on commission. It is deducted at the rate of 10% on the amount of commission paid. Maximum ceiling amount u/s 194H is currently Rs. 5000/-. After deducting TDS on commission it is deposited to the government (Income Tax) in challan no. 281 and entry of the same is submitted in Form 26Q (Quarterly).
Vinay somani (CA, CS)
(Assistant Manager-Accounts)
(549 Points)
Replied 26 May 2016
Agree with Vikas Gupta.
U have to file 26Q for the same in at the end of respective quarter.
CA RUSHABH GANDHI
(CA)
(212 Points)
Replied 27 May 2016
amount to deduct tds on commission is revised from 5000 to 15000
omprakash
(accountant)
(55 Points)
Replied 28 May 2016
Yes u are right sir but it is from 01.06.2016
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