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TDS on Insurance premium, Income Tax

Issue Id: - 111553
Dated: 25-2-2017
By:- Raj Malik

TDS on Insurance premium

Contents

Whether TDS be deducted on Insurance premium ??

Posts / Replies

Showing Replies 1 to 2 of 2 Records

Page: 1

1 Dated: 25-2-2017
By:- Sarveshwar Mundra

Yes, as per section 194D of the I.T. Act 1961

2 Dated: 25-2-2017
By:- YAGAY AND SUN

NEW SECTION 194DA

According to the new Act introduced now, tax shall be deducted at source (TDS) on payouts to Resident Indian customers if the cumulative payout across all policies which are not exempt under section 10(10D) equals or exceeds ₹ 1 lakh in a financial year.