Tds On Commission 2024-24 Limit. New effective from 1 october 2024: Starting from april 1, 2025, if a firm makes any payments to its partners, it must deduct tds at 10% if the payment amount exceeds the threshold limit of 20,000.

The concept of tds was introduced with an aim to collect tax from the source of income. Under section 194t, if you receive salary, commission, bonus, or interest exceeding rs.