49[Insurance commission.
50194D. 51Any person responsible for paying to a resident any income by way of
remuneration or reward, whether by way of commission or otherwise, for
soliciting or procuring insurance business (including business relating to the
continuance, renewal or revival of policies of insurance) shall, at the time of
credit of such income to the account of the payee or at the time of payment
thereof in cash or by issue of a cheque or draft or by any other mode,
whichever is earlier, deduct income-tax thereon at the rates in force :
Provided that no deduction shall be made under this section from any such income
credited or paid before the 1st day of June, 1973:]
52[Provided further that no deduction
shall be made under this section in a case where the amount of such income or,
as the case may be, the aggregate of the amounts of such income credited or
paid or likely to be credited or paid during the financial year to the account
of, or to, the payee, does not exceed 52a[twenty] thousand rupees.]
