01 January 2016
Dear sir / madam
please confirm me premium paid on life insurance and vehicle is their neccessry to deduct TDS if yes under which section
01 January 2016
Dear You are not required to deduct TDS. There is no liability to deduct TDS under Income tax act. You may be confused by reading section 194DA. But that section deals with the amount received on maturity of life insurance policyand also here insurance company is liable to deduct TDS @ 2%.
CAclubindia
