Fact-check notes
Last fact-checked: 2026-06-04
AY 2026-27 return filing for FY 2025-26 is governed by the Income-tax Act, 1961. The Income-tax Act, 2025 applies from Tax Year 2026-27 onward, so new-section references must be checked against the live portal before filing.
This page is preparation guidance for scoping work on WorkIndex. Ask the expert to verify active law, portal forms, notifications and your documents before filing or signing anything.
What this covers
ITR for Commission Agents should be scoped by income type, assessment year, deductions, AIS/Form 26AS data and whether business/professional schedules apply.
- Commission income, TDS and expense records need specific schedule and document review.
- AY 2026-27 for FY 2025-26 should be filed under Income-tax Act, 1961 forms.
- AIS/Form 26AS, bank interest, TDS and capital gains should be reconciled before filing.
- Select ITR form based on actual income heads, not profession label alone.
Who this is for
- Taxpayer preparing annual ITR.
- Person with salary plus additional income.
- Retired or professional taxpayer with mixed income.
- Taxpayer checking refund or notice risk.
Documents and details to prepare
- PAN, Aadhaar and bank details.
- Form 16, AIS/Form 26AS and interest certificates.
- Capital gains, rent, pension or professional income records.
- Deduction proofs and prior return.
Common mistakes to avoid
- Wrong ITR form.
- Missing interest or capital gains.
- Claiming deductions without proof.
- Ignoring special-rate income and rebate limits.
How to brief the expert
- Mention the city, entity type, transaction value, deadline and current portal status.
- Upload or list the records available so the expert can quote accurately.
- Ask for scope, deliverables, timeline, assumptions and government fee exclusions in writing.
- Keep acknowledgements, challans, filings, certificates and advice notes after completion.
FAQs
Can WorkIndex help with this?
Yes. Post your requirement and compare relevant experts by scope, quote, timeline and supporting documents needed.
Is this page legal or tax advice?
No. It is a preparation guide. Your expert should verify current law, portal forms, notifications and your documents before filing or signing.
What should I include in my post?
Include the city, year or period, entity type, deadline, notices if any, documents available and whether you need filing, review, drafting or ongoing support.
Frequently Asked Questions
1. What are the TDS rates, sections, and thresholds applicable to commission or brokerage on ITR for Commission Agents?
Under Section 194H, TDS is deducted at 5% on payments for commission or brokerage related to ITR for Commission Agents if the aggregate annual payment exceeds the threshold limit of ₹15,000.
2. What is the penalty for default or delay in TDS compliance for ITR for Commission Agents?
Failure to deduct or deposit TDS on ITR for Commission Agents on time attracts interest at 1% or 1.5% per month, late filing fees of ₹200 per day under Section 234E, and disallowance of expenses.
3. What is the threshold limit for TDS under Section 194H?
TDS is required to be deducted u/s 194H only if the aggregate amount of commission or brokerage paid or payable during the financial year exceeds ₹15,000. No TDS applies if the total amount is ₹15,000 or less.
4. What is the definition of commission or brokerage for tax purposes?
Commission or brokerage includes any payment received by a person acting on behalf of another person for services rendered (except professional services), or in the course of buying/selling goods, or in relation to any transaction relating to assets, valuable articles, or securities.
5. Does Section 194H apply to insurance commission?
No. Insurance commission is governed by a separate section, Section 194D (TDS rate is 5% for residents), and is subject to its own thresholds (₹15,000).
6. Does Section 194H apply to payments made by individuals?
Section 194H applies to individuals and HUFs only if they are liable to tax audit under Section 44AB (turnover > ₹1 crore for business or gross receipts > ₹50 lakh for profession) in the preceding financial year.
7. Is TDS applicable on bank commission or underwriting fees?
No. Under CBDT Circular No. 5/2012, no TDS is applicable on payments made to banks towards bank guarantee commission, underwriting fees, credit card commission, or warehousing charges.
8. What is the due date for depositing TDS deducted u/s 194H?
TDS must be deposited into the government treasury by the 7th of the following month (e.g., September TDS by October 7). For March deductions, the due date is April 30.
9. What form is used to file quarterly TDS returns for Section 194H?
All non-salary TDS deductions, including Section 194H, must be reported quarterly in Form 26Q on or before the due date (July 31, October 31, January 31, and May 31).
10. What is the penalty for late filing of TDS returns?
Under Section 234E, a late fee of ₹200 per day is charged for delayed filing of TDS returns, up to a maximum amount equal to the TDS amount in the return.
11. Can a payee obtain a lower TDS deduction certificate under Section 197?
Yes. If the payee's total income justifies a lower tax rate, they can apply in Form 13 online on the e-filing portal to obtain a lower or nil TDS certificate from their Assessing Officer u/s 197.
12. How does the agent verify TDS credits?
All TDS deductions u/s 194H appear in the taxpayer's Form 26AS and AIS under the deductor's TAN. The agent can verify these credits before filing their ITR.
13. Is TDS applicable on brokerage paid on the purchase of securities?
No. Under the explanation to Section 194H, no TDS is applicable on brokerage or commission paid in relation to transactions in securities on a recognized stock exchange.
14. What is the interest rate for delayed TDS payment?
If TDS is deducted but not deposited within the due date, interest at 1.5% per month is payable from the date of deduction to the date of deposit.
15. Does Section 194H apply to payments made to non-residents?
No. Section 194H applies only to payments made to resident taxpayers. Payments to non-residents or NRIs are governed by Section 195, where TDS rates depend on the DTAA or Income Tax Act provisions.