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How to report INCOME and TDS in ITR 2 - Deducted by LIC under Section 194DA and showing in Form 26AS ?
Thanks and Regards
To report income and TDS in ITR-2 for amounts deducted by LIC under Section 194DA, follow these steps: Reporting Income
1. *Schedule OS*: Report the income from LIC policies under "Income from Other Sources" in Schedule OS.
2. *Section 194DA*: Ensure that the income and TDS details are correctly reflected in the relevant sections of Schedule OS. Reporting TDS
1. *Schedule TDS 2*: Claim the TDScredit in Schedule TDS 2 by entering the details of the TDS deducted by LIC under Section 194DA. 2. *Form 26AS*: Ensure that the TDS details reflected in Form 26AS match the details reported in your ITR-2. Key Points to Ensure -
*Accurate Reporting*: Ensure that the income and TDS amounts are accurately reported in the ITR-2. -
*Matching with Form 26AS*: Verify that the TDS credits claimed in the ITR-2 match the details in Form 26AS. By following these steps, you can correctly report the income and TDS in your ITR-2 for amounts deducted by LIC under Section 194DA.
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