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The TDS rate for insurance commission, life insurance policy payments, rent payments, and commission or brokerage payments is proposed to be decreased from 5% to 2%. The TDS rate on payments made by e-commerce operators to e-commerce participants for the sale of goods or services is set to be reduced from 1% to 0.1%.
Form 16D is a TDS Certificate issued for payment of a commission, brokerage, contractual fee, the professional fee under section 194M by the payer. Under Section 194M if the payments to resident contractors and professionals exceed INR 50,00,000 during the Financial Year, the payer has to deduct tax at the rate of 5% from the sum payable to a ...
Non-corporate taxpayers pay a 10-percent surcharge on income between ₹ 5 million and ₹ 10 million. There is a 15-percent surcharge on income over ₹ 10 million. Domestic companies pay seven percent on taxable income between ₹ 10 million and ₹ 100 million, and 12 percent on income over ₹ 100 million.
Around ₹10 crore in new ₹2000 notes were seized in Chennai. [ 46 ] As of 10 December 2016, new notes worth ₹242 crore were seized by the Income Tax Department.
The first report, consisting of recommendations for the financial year 2020–21, was tabled in Parliament in February 2020. [25] On 9 November 2020, the Fifteenth Finance Commission (XVFC) led by Chairman Sh N K Singh, submitted its report for the period 2021–22 to 2025–26 to the Hon'ble President of India. [26]
The First Pay Commission had a secretary but no member secretary. Since the First Pay Commission, all subsequent pay commissions have had a member secretary, typically selected from the Indian Administrative Service. [9] The final report of the Fifth Pay Commission was submitted for consideration before the Government of India in April 1997.
Census Commission: 1872: Ministry of Home Affairs: 21: Central Forestry Commission: 1965: 22: Central Water Commission: 1945: Ministry of Water Resources, River Development and Ganga Rejuvenation: 23: Electronics Commission: 1971: 24: Commission for Additional Sources of Energy: 1981: 25: Rashtriya Barh Ayog (National Flood Commission) 1976
On 30 January 2018, President Ram Nath Kovind gave his nod to The 7th Pay Commission's suggestion of increasing the monthly salary of Chief Justice of India (CJI) to Rs 2.80 lakh per month from the present Rs 1 lakh per month, besides recommending a salary hike of the judges of the Supreme Court and the 25 High Courts in India.