related to TDS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 June 2011 Mr. A is in a business of insurance polices trading of various company. They sell polices through there own agents and agents collect premium from client(invester).The polices include medical insurance, motor, Personal Accident, Marine Cargo, etc. from reliance general insurance, future general India insurance co. ltd, tata aig general insurance co. ltd., etc. . The cheque given by the client in fever of above insurance company.XYZ got 15% insurance commission(194H)on premium from insurance co. than XYZ give 7% commission to their agents.
QUERY:-

Whether this 7% commission paid to agent by XYZ is consider as:-

1) Insurance commission u/s 194D
2) Commission or Brokerage u/s194H
3) Professional or Technical Fess u/s 194J
4) Contracts to Individuals/HUF u/s194c

Note;-
1-Mr. A is individual

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
Follow

09 June 2011 SECTION 194 D PROVIDES THAT Any person responsible for paying to a resident any income by way of remuneration or reward, whether by way of commission or otherwise, for soliciting or procuring insurance business (including business relating to the continuance, renewal or revival of policies of insurance) shall......DEDUCT TAX
SO THE CASE IS FULLY COVERED BY SECTION 194D

CA MANOJ GUPTA
JODHPUR
09828510543

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Vinod Selv

AKCJ INFO

JAYDEEP MITRA

Richa Bajoria

Arun Borad

Subscribe Now

related to TDS

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA