What is the 194H in TDS?

Section 194H is for income tax deducted on any income by way of commission or brokerage, by any person responsible for paying to a resident. Individuals and Hindu Undivided Family who were covered under section 44AB are also required to deduct TDS.

What is the limit to deduct TDS u/s 194H?

₹ 15,000
Under Section 194H, the threshold limit for TDS deduction for commission/brokerage is ₹ 15,000 .

What is the TDS rate under section 195?

Rate of TDS under Section 195

Particulars	TDS rates
Income by way of long-term capital gains	10%
Short Term Capital gains under section 111A	15%
Any other income by way of long-term capital gains	20%
Interest payable on money borrowed in Foreign Currency	20%

What is the rate of TDS on commission?

The rate of TDS on commission or brokerage is ten percent, which includes five percent from the fiscal 2016-2017. There is no additional charge or education cess imposed on payment to resident. If PAN has not been delivered by the payee, then TDS to be deducted at the rate of 20 percent.

What is the TDS rate?

TDS rates applicable for resident of India

TDS Rate (%)

TDS Rates from 01.04

What is the definition of TDs in Section 194H?

The present article briefs the basic provisions of section 194H of the Income Tax Act; explains the meaning of commission / brokerage; provides TDS deduction rate and time of deduction of TDS and also provides the list of cases wherein TDS is not deductible under section 194H.

What does Section 194H mean in income tax?

Section 194H is for income tax deducted on any income by way of commission or brokerage, by any person responsible for paying to a resident.

What is the TDs rate for Commission and brokerage?

A comprehensive guide to understanding TDS levied on commission and brokerage The TDS rate under section 194H is 3.75% for transactions from 14 May 2020 until 31 March 2021. Section 194H is for income tax deducted on any income by way of commission or brokerage, by any person responsible for paying to a resident.

What’s the difference between Ans and section 194d?

Ans. Section 194D is for the TDS on insurance commission deducted by the insurance companies of their agents. Q – How many types of TDS is there? Ans. Generally 2 types of TDS is deducted by the deductor i.n TDS on salary and TDS other than salary.