Hi all
Due to recent changes,
- Is TDS applicable on Insurance premium paid to Insurance companies
- Is TDS applicable on Electricity Charges paid for Electric companies?
Thanks & Regards
B Bala Pullaiah
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TDS on Insurance Premium & TDS on Electricity
Replies (1)
-
Insurance Premium: TDS is not applicable on the payment of premiums. It only applies to the commission paid to agents (under 194D) or potentially on certain maturity payouts (under 194DA).
-
Electricity Charges: TDS at 0.1% is applicable under Section 194Q if you are a "specified buyer" (turnover > ₹10 crore) purchasing electricity directly from a supplier for more than ₹50 lakh in a financial year.
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