194 DA (ITR)

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 ??

Replies (2)
Quick Summary
This discussion addresses how to correctly report receipts from life insurance policies under Section 194DA in your Income Tax Return (ITR). The original poster experienced a defective return after showing these receipts under 'other sources'. The advice clarifies that Section 194DA pertains to payments made under life insurance policies and suggests investigating other potential reasons for the return defect, rather than assuming the 'other sources' category was inherently wrong.

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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