TDS on NON LIFE INSURANCE COMPANY
Rajat Singhal (95 Points)
29 January 2019
Can tds be deducted on the claim paid amount by any insurance company in case of non life insurance??
6 Replies
Rajat Singhal
(95 Points)
Replied 29 January 2019
can you explain more, thus i get a clear conclusion?
Shilpa padia
(Student)
(45 Points)
Replied 29 January 2019
See if the payment is in the nature of insurance commission so in that case insurance company deduct TDS from resident agent @ 5% provided the payment Amount of commission is exceeding 15000p.a.
Rajat Singhal
(95 Points)
Replied 29 January 2019
Okh i agree with you, but my query still as it is that on compensating or claim paid amount by any insurance company in case of non life insurance? not for commission paid .
Shilpa padia
(Student)
(45 Points)
Replied 29 January 2019
No,194DA specifically related to life insurance policy
Nitesh bind
(Student CA Final )
(12692 Points)
Replied 29 January 2019
No, there is no such TDS requirement while paying claim amount on Non Life insurance (say Car Insurances).
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