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
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
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
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