Tds deducted by insurance company but no benefit to subbrokr

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 April 2014 Our company is a sub broker company.
Insurance company pays commission to Rs.90 to broker after dedducting TDS and broker transfers Rs. 63 to our company and keeps Rs. 27 with themselves.

I want to know what can be worked out as whole TDS is deducted in their name of Rs. 10 and we loss income also and dont get benefit of the same in income tax also.

Rupesh Jain

Rupesh Jain (Expert)
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17 April 2014 you check 26AS of your company online and also you take a/c statement form the company where you received the commission

then you can take clear picture that what the commission and also what the tds . (tds are credited in your a/c or another a/c)

Nikhil Kaushik

Nikhil Kaushik (Expert)
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17 April 2014 well, check if the broker is deducting TDS at 10%. because it is very much possible that the broker is paying you gross Rs 70 and deducting Rs 7 as tax. For this you should first check agreement/contract document signed between broker and sub-broker.

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