How to treat Reciepts from Life Insurane Policy (194DA)? I showed in other Sources and it got Defective Return ? Kindly Advise how it should
be shown in ITR ? Is it other source or to be Shown in Business ??
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194 DA (ITR)
Replies (2)
You are correct. Section 194DA of the Income Tax Act, 1961 covers the person making payment to a resident person any sum under the life insurance policy.
The defect could have been with any other reason.
Pls share the reason why return waa defective and what department suggest to change it
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