Section 194H Tds on comission or brokerage

Section: 194H.

Payer:  Any person (other than individual or HUF who are not liable to tax audit u/s 44AB in the last PY)

Payee: Any resident person

Nature of payment: Any income by way of comission or brokerage (not being insurance comission referred to in sec 194D)

Tds Rate: 5%

Note:

• No Tds if comission is upto ₹15,000
• No Tds if any commission or brokerage payable by BSNL or MTNL to their public call office franchisees.
• Commission or brokerage" includes any payment received or receivable, directly or indirectly, by a person acting on behalf of another person for services rendered (not being professional services) or for any services in the course of buying or selling of goods or in relation to any transaction relating to any asset, valuable article or thing, not being securities

Timing of deduction: At the time of credit of such income or payment of such income in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier.

Source" income tax india"

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