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Can anyone explain amendment in sec. 10(10d) with an example ? urgently
can anyone explain
amendment in sec. 10(10d) with an example ? urgently.
Replies (1)
In brief, from 01/10/2014, the life insurance companies have to deduct tax at source under 194DA if the pay out at maturity (including bonus) exceeds Rs 1 lakh in case of those life policies where annual premium paid is more than 10% of sum assured.
Regards,
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