% of TDS on Commission

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RAJU MAGAM (Querist)
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28 May 2008 Plese tell me how many % of TDS we have to deduct while paying commission to individual(Commission amount Rs.7300000/-)

Reetika Goel

Reetika Goel (Expert)
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28 May 2008 TDS will be @ 10% + Surcharge @10% + Education cess @2% + Secondary and Higher Education Cess @1%.

Therefore, TDS will be 73,00,000*.1133 = 8,27,090.

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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28 May 2008 194H. Any person, not being an individual or a Hindu undivided family, who is responsible for paying, on or after the 1st day of June, 2001, to a resident, any income by way of commission (not being insurance commission referred to in section 194D) or brokerage, shall, at the time of credit of such income to the account of the payee or at the time of payment of such income in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of [ten] per cent :

Provided that no deduction shall be made under this section in a case where the amount of such income or, as the case may be, the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year to the account of, or to, the payee, does not exceed two thousand five hundred rupee

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