Taxable amount
This query is : Resolved
16 July 2018
I have policy of icici prudential life link wealth sp bought in 2010single premium paid 3lacs
sum assured 375000
amt rececived 450000
tds deducted @ 1% u/s 194da
whether full amount of 450000 taxable or 150000being excees of premium paid taxable.
please advise as its urgent
sum assured 375000
amt rececived 450000
tds deducted @ 1% u/s 194da
whether full amount of 450000 taxable or 150000being excees of premium paid taxable.
please advise as its urgent
16 July 2018
If you go by the section and form 26AS, Rs.4,50,000.
16 July 2018
Sir but it isn't it double taxation as premium when paid was claimed under 80c exemption and was taxable and again it is taxed.
if we read circular no. 7/2003 dated sept 05/2003. it is only excess amount taxable
if we read circular no. 7/2003 dated sept 05/2003. it is only excess amount taxable
26 July 2025
https://docs.google.com/document/d/1x1_TSH6jDClADZLs8Mph-sXRqDzSizhswLL5HM5OreM/edit?usp=sharing
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
