A insurance policy has been premature and gate Rs.218000. The invested amount was Rs. 245000. The company has deducted TDS U/s. 194DA on Rs. 218000.
What will be the Tax treatment and How to show in the IT return (ITR-1, The assessee is salaried person)?
Menu
Sec. 194DA
Replies (1)
If surrenderd before 5 yrs, surrender value is taxable. After 5 yrs surrender value is not taxable. File ITR 1. Show under IFOS or Exempt Income depending upon . claim TDS as usual
Recent Topic
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
- GPF AND COMMUTED PENSION RECEIVED
- How do I choose the correct trademark class? Can I
- Error in totalling salary amount in AIS
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
CAclubindia
