Start Filing Your ITR Now
Our plans start from ₹ 399/-

Section 194D-Payment of insurance commission to domestic companies

194D: TDS on Insurance Commission

Insurance agents for companies like LIC, HDFC Insurance, ICICI Insurance etc. are mainly affected by this tax deduction provision. 

TDS u/s 194D Deduction Requirement

Those who pay residents income for generating insurance business must deduct TDS under this section. 

194D TDS Rate & Time

The tax rate is 5% for residents and 10% for domestic companies, or 20% if no PAN is quoted. The deduction takes place when the income is credited to the payee's account or paid by any means. 

Exemption from TDS Deduction

No TDS under 194D is required if the income does not exceed Rs. 15000 in total for the financial year or if Form 15G/H is submitted.



The Tax Heaven

Mr.Vishwas Agarwal✍📊, a seasoned Chartered Accountant 📈💼 and the co-founder & CEO of THE TAX HEAVEN, brings 10 years of expertise in financial management and taxation. Specializing in ITR filing 📑🗃, GST returns 📈💼, and income tax advisory. He offers astute financial guidance and compliance solutions to individuals and businesses alike. Their passion for simplifying complex financial concepts into actionable insights empowers readers with valuable knowledge for informed decision-making. Through insightful blog content, he aims to demystify financial complexities, offering practical advice and tips to navigate the intricate world of finance and taxation.

Subscribe to the exclusive updates!