Tds On Commission 23-24 2024. It is important to refer to the tds rate. Effective from october 1, 2024, the tds rate for commissions paid to agents under clause 57, section 194h of the income tax act, has been reduced from 5% to 2%.
As tax laws change periodically, it’s crucial to stay informed about the latest rates. If the commission amount exceeds this limit, tds will be deducted at the rate of 5% for individuals and 10% for companies.