Bhargav (Business) (106 Points)
07 August 2024How to treat Reciepts from Life Insurane Policy (194DA)? I showed in other Sources and it got Defective Return ? Kindly Advise how it should
be shown in ITR ? Is it other source or to be Shown in Business ??
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170322 Points)
Replied 07 August 2024
You are correct. Section 194DA of the Income Tax Act, 1961 covers the person making payment to a resident person any sum under the life insurance policy.
The defect could have been with any other reason.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
