Section 194H of ITA, 1961 : Section 194H: Commission Or Brokerage

ITA, 1961

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Explanation using Example

Imagine a company, XYZ Pvt. Ltd., that sells products through various agents. These agents are paid a commission for the sales they generate. If one of the agents, Mr. A, generates sales leading to a commission of ₹20,000 in a month, XYZ Pvt. Ltd. must deduct income tax at the rate of 5% from Mr. A's commission because the amount exceeds the threshold of ₹15,000 for the financial year. This means Mr. A will receive ₹19,000 after a tax deduction of ₹1,000 (which is 5% of ₹20,000)...

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