Tds On Commission U/S 2024

Tds On Commission U/S 2024. From october 1, 2024, budget 2024 has significant changes to tax deducted at source (tds) will take effect, aimed at simplifying compliance and easing tax burdens for businesses and individuals. Tds on commission or brokerage is reduced to 2%, previously.

Section 194d (insurance commission) and section 194da (life insurance policies) will see rates drop from. Average rate of tax + health & education cess (surcharge if salary > 50 lacs) tds as per tax regime selected by employee.