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Tds query
How is TDS calculated on insurance commission from 01/06/2016 where the exemption limit is decreased to Rs.15000/- and rate to 5%.
Replies (1)
up to 31.5.2016, you need to deduct TDS @ 10% if the limits exceeded by that period itself. If the new limit is exceeded after 31.5.2016, you can deduct TDS @ 5%. That means you may have two rates for one financial year.
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