Question
What is the rate of Tax Deduction at Source from
insurance commission? (Commission amount is ₹20,000 and assessee is an individual)Solution
Section 194D is applicable for all such payments made to a resident whether they are an individual, company or any other category of persons. The rate of TDS in case of Domestic companies is 10% whereas for persons other than company is 5%, however no TDS is required to be deducted if commission paid does not exceed Rs.15,000.
Which of the following organizations publishes the World Development Report?
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