TDS DEDUCTION U/S 194DA
This query is : Resolved
26 June 2023
Tds @ 5% was deducted u/s 194DA of the Income-tax Act on Rs.14.00 lakhs for the reason Maturity value 3 years period of Money Back policy SBI Life Insurance Co Ltd during the year 2022-23. In this regard clarify the details whether the amount received Rs.14.00 lakhs to be offered as Income or exempted?
Dhirajlal Rambhia
(Expert)
26 June 2023
It is taxable, offer for assessment.
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