TDS on Insurance premium

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..... TDS on Insurance premium
Query (Issue) Started By: - Raj Malik Dated:- 25-2-2017 Last Reply Date:- 25-2-2017 Income Tax
Got 2 Replies
Income Tax
Whether TDS be deducted on Insurance premi .....

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..... um ?? Reply By Sarveshwar Mundra: The Reply: Yes, as per section 194D of the I.T. Act 1961 Reply By YAGAY AND SUN: The Reply: NEW SECTION 194DA According to the new Act introduced now, tax shall .....

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..... 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 financ .....

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..... ial year. * In case PAN is available and valid, 2% TDS will be applicable. * In case PAN is invalid or not available, 20% TDS will be applicable! In case your life insurance policy qualifies for .....

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..... Sec 10(10D), no TDS will be deducted.
Discussion Forum - Knowledge Sharing .....

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