State the rate of tax deductible or collectible at source under the provisions of the Income-tax Act, 1961 in respect of the following transactions: Commission paid by a company for purchase of machine to agent X & C

As per Section 194 (H) of the Income Tax Act, 1961 commission paid by a company is liable for tax deduction when the commission payments exceed ₹15,000. As the payment made i.e. ₹10,000 is below the threshold limit i.e. ₹15,000, TDS provision contained in section 194H of the Income Tax Act, 1961 is not attracted.