What is TDS on Insurance Commission (Section 194D)?
Nexa Consultancy | Startup & Finance Glossary
TDS must be deducted at 5% on insurance commission payments if the total payment to a resident exceeds ₹15,000 in a financial year.
Startup Example: An InsurTech startup that works with individual agents must deduct TDS on the commission it pays out to them, once the annual payment to an agent crosses the threshold.
Our services are tailored for the FinTech and InsurTech industries.