Web22 Jan 2024 · The existing section code 194J (i.e. Fees for Professional or Technical Services) has been sub-divided now into two sections, 194J(a) and 194J(b), effective … Web1 Mar 2024 · Under Section 194DA of the (I-T) Act, 1961, insurance companies in India have been made liable to deduct tax at source in case of life insurance policy maturity …
Taxable Returns from Life Insurance Policy in India
Web15 Jul 2024 · The below are the cases were section 194DA applies: a. Amount received under sub-section (3) of Section 80DD or sub-section (3) of 80DDA of the Income Tax Act, 1961. b. Any sum received under an insurance policy issued on or after the 1st day of April, 2003 but on or before the 31st day of March, 2012 in respect of which the premium … Web19 Aug 2024 · Under section 194DA of the Act, a person is obliged to deduct TDS, if it pays any sum to a resident under a life insurance policy which is not exempt under sec 10 … cold turkey nicotine withdrawal symptoms
TDS on Payment in respect of Life Insurance Policy (Section 194DA)
WebGiven the following incomes, you should file and report the incomes in ITR 4 form Under the following heads: 1. Pension income - Income under the head salary 2. Income from private practice - Income from profession under the head presumptive if the total receipts does not exceed 50L. 3. Proceeds from SBI life policy- Income from other sources. Web18 Jan 2024 · 3) Rate of TDS under Section 194DA. The rate of tax u/s 194DA is 5% (3.75% w.e.f. 14.05.2024 to 31.03.2024) on ―only Income Part‖ of the payment made under LIP. … Web30 Apr 2024 · In above section(Bold part), TDS is deductible by insurance company only if section 10(10D) is not applicable on such payment , so is it clear from section 194DA that … dr michael hall radiation oncologist