banner_ad

194 ADA query

615 views 4 replies
Gross income is 923871
Insurance benefit Rs 173669
2% TDS deducted for insurance benefit.

1. Should I add insurance benefit to gross income?
2. If I should add what is the benefit of insurance policies?
3. If I add this insurance benefit to gross income it goes to 20% slab?

Need your advice
Thank you
Replies (4)

If insurance benefit is issued in lieu of any capital loss occurred earlier, no need to add; it is capital receipt.  

What if its maturity amount?

Maturity amount taxable if not exempted u/s. 10(10D).

But here you may calculate only gains over & above premium paid, and offer to tax. (Sitharaman Mam has offered the option in this budget)

Thank you sir


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details