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i m agent of reliance life insurance i have sold one
traditional product of premium size 10,000/- rs and
comission rate is 18% what will be net comission will be
recd by me after deducting service tax and tds ?

Answers were Sorted based on User's Feedback



i m agent of reliance life insurance i have sold one traditional product of premium size 10,000/- ..

Answer / s kiran

If Premium Rs-10000

Commission @18% = 1800

TDS on Insurance Commission U/s 194 D is 10%

So, TDS amount will 180.

Net Commission in Hand = 1800 - 180 = 1620

Is This Answer Correct ?    14 Yes 8 No

i m agent of reliance life insurance i have sold one traditional product of premium size 10,000/- ..

Answer / anchit saxena

u r not laible to pay service tax on commission only liable
to pay tds @ 10% if u r getting commission amount exces
rs.20,000 ok. i learnt your question bt not getting a clear
picture so i can't solve your question ok.

Is This Answer Correct ?    3 Yes 0 No

i m agent of reliance life insurance i have sold one traditional product of premium size 10,000/- ..

Answer / bhakti

what about service tax the concerned person has deducted
only tds ?

10000/ @ 18% = 1800

less service tax - 105

less tds - 170

net com = 1525

Is This Answer Correct ?    7 Yes 5 No

i m agent of reliance life insurance i have sold one traditional product of premium size 10,000/- ..

Answer / dhokchaule kishor

You are not liable to pay service tax u r only liable to pay
TDS on your commission @10% only when your annual commissin
earning cross exemption limit of Rs.20000/-


Regards,
Kishor Dhokchaule
Finance Executive
Prabhat Group of Industries,
Nirmalnagar- 413720

+919822508968
Kishordhokchaule@gmail.com

Is This Answer Correct ?    3 Yes 2 No

i m agent of reliance life insurance i have sold one traditional product of premium size 10,000/- ..

Answer / deepak garg

Why Service tax dedut on insurance Commission; & Which rate?

Is This Answer Correct ?    3 Yes 3 No

i m agent of reliance life insurance i have sold one traditional product of premium size 10,000/- ..

Answer / rajan t.

I am agree for 2nd answer for Service Tax deduction.

Is This Answer Correct ?    3 Yes 3 No

Post New Answer

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