CASANSAAR CA Sansaar

Q. > Please Help: 194 DA
user

339 views • Question added Jul 12, 2015 • Income Tax • By PRAKASH KUMAR SINGH , Rishra


Hi all,

Tds has been deducted u/s 194 DA @ 2%,for the proceeds under life insurance policy amounting Rs 42,000.As per section 194 DA,Tds is Deducted only for those policies which donot come under the ambit of Section 10(10D) i.e,Tds is deducted for those proceeds which are not Exempt. Still I have to confirm about the proceeds of Rs 20,58000 that I have Received,Total maturity proceeds was Rs 20,58000 +42000(tds)=Rs 21,00,000.And total premium paid by me is Rs 15,00,000. If its taxable with the entire proceeds received be taxed i.e Rs 21,00,000 or the amount received less premium paid,i.e (21,00,000-15,00,000)=Rs 6,00,000, If yes then under which head??

subscribe
Ask a question:
Experts Panelist
Profile Image
Rambabu Senkarasetti
Accounts, Audit, Corporate Law, Finance, Income Tax, Service Tax, Students, VAT
Answers Posted : 409
Profile Image
CA Satuti Mahajan
Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT
Answers Posted : 291
Profile Image
Vikash Kumar Jha
Accounts, Audit, Banking, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT
Answers Posted : 270
Profile Image
Rishabh Upadhyay
Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT
Answers Posted : 257
Profile Image
Ashish Karundia
Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, Income Tax, Service Tax, Students, VAT
Answers Posted : 257
Profile Image
Mrattunjay
Accounts, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT
Answers Posted : 220
Profile Image
PRIYANKA
Accounts, Audit, Corporate Law, Excise, Finance, Income Tax, Service Tax, Shares & Stock, Students, VAT
Answers Posted : 136
Profile Image
CA. SURESH Kr. AGARWAL
Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT
Answers Posted : 131
Profile Image
Vaneet Gupta
Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT
Answers Posted : 120
Profile Image
Ketan Samdani
Accounts, Audit, Corporate Law, Excise, Finance, GST, Income Tax, Service Tax, Students, VAT
Answers Posted : 117
View more
4896
QUESTIONS
4699
ANSWERS
833
EXPERTS
2730
QUERIST
Home Jobs Empanelment Queries Profile