Can anyone explain amendment in sec. 10(10d) with an example ? urgently
Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com)) (8311 Points)
18 November 2014Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com)) (8311 Points)
18 November 2014
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 18 November 2014
In brief, from 01/10/2014, the life insurance companies have to deduct tax at source under 194DA if the pay out at maturity (including bonus) exceeds Rs 1 lakh in case of those life policies where annual premium paid is more than 10% of sum assured.
Regards,
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