Changes in TDS

15H Form now applicable to insurance commission agents

Existing (Financial Year 2016 - 2017 or AY 2017-18)

Insurance Agent get Commission from Insurance Companies.

Currently Insurance Companies deducts TDS at 5% on Commission if Commission made is more than 15000 p.a.

New(Financial Year 2017 - 2018 or AY 2018-19)

Rates of TDS and Commission are same.

Insurance Agents can give Form 15H Self Declaration to Insurance Company if their total income is less than Income Tax slab Rate.

If this form is given, Insurance Company will not deduct TDS.

Go Ad-free
CA Maninder Singh's photo - Co-founder, Teachoo

Made by

CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.