143(1a)

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Gaurav (Querist)
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24 May 2018 WE ARE RECEIVING PROCESSING U/S 143(1)a, IN SOME CASES THERE IS MISMATCH ON ACCOUNT OF DEDUCTION U/S 194da AND ITS TREATMENT IN RETURN. If a person paid premium of 212000/- on 200000/- policy for 10 yrs more than 10% of sum assured and received 269000/- as maturity then insurance company is deducting TDS u/s 194da @1 % on whole 269000/- what would be the tax treatment.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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24 May 2018 The department would like to see the figure like 269000/-. Under Other sources head Show gross receipts as 269000/ and deduct the amount paid towards Premium from it

Gaurav

Gaurav (Querist)
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25 May 2018 thanks for prompt reply

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143(1a)

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