Mr. R, an individual responsible for paying ₹20,000 to XYZ Private Limited by way of commission for procuring insurance business. What rate of TDS is required to be deducted by Mr. R?

CS Executive · Tax Laws and Practice · PYQS · December 2021
Mr. R, an individual responsible for paying ₹20,000 to XYZ Private Limited by way of commission for procuring insurance business. What rate of TDS is required to be deducted by Mr. R?
(A) 2%
(B) 5%
(C) 20%
(D) No TDS is required to be deducted

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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