194 DA

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Articled Assistant
69 Points Joined September 2015
In these it is stated that TDS on payment of Life Insurance policy ...Maturity amount received from LIC is exempt u/s 10(23D)....

Can any one solve my query diffrence between 10(23D) & 194DA
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On 09 August 2017 at 22:41 Report
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Proprietor
4869 Points Joined January 2010
NO EXEMPTION IS AVAILABLE IF FALL UNDER 194da
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On 09 August 2017 at 23:41
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Articled Assistant
69 Points Joined September 2015
Sir,I want to know the reason why no exemption if fall under 194DA
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On 10 August 2017 at 12:11
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Proprietor
4869 Points Joined January 2010
bcoz there is a restriction on exemption when yearly premium is more than 10% of total sum assured. U might have taken single premium policy. hence ...
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On 10 August 2017 at 12:16
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Proprietor
4869 Points Joined January 2010
remember single premium policy is never beneficial so avoid it no tax benefits either 80 c or 10(10D)
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On 10 August 2017 at 12:31
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Proprietor
4869 Points Joined January 2010
that is why tds there
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On 10 August 2017 at 12:32
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Articled Assistant
69 Points Joined September 2015
so, sir if i have single premium policy and that also i pay more than 10% of sum assured in a year than...it would attract 194DA...
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On 10 August 2017 at 12:34
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Articled Assistant
69 Points Joined September 2015
And if i have 2 to 3 premium policy than in that case?
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On 10 August 2017 at 12:35
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Proprietor
4869 Points Joined January 2010
yes u can not get even 80 c benefit
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On 10 August 2017 at 12:37
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Articled Assistant
69 Points Joined September 2015
Thank u sir ...u solved all my queries...once again thank you
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On 10 August 2017 at 12:40
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Proprietor
4869 Points Joined January 2010
u r welcome.
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On 10 August 2017 at 13:13


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