Service tax on insurance agents

Others 564 views 1 replies

Dear frnds,

I need your help on the below case:

A Pvt. Ltd. is engaged in selling of life insurance product of Bharti AXA Ltd.

Bharti AXA Ltd. is deducting TDS u/s 194C not u/s 194D of Income Tax Act.

Is service provided by the Pvt Ltd to Bharti AXA Ltd in the nature of business auxilary services

or insurance services.

i.e is it a transaction coverd under the normal provision or reverse charge provision of the service tax.

 

thanking you in advance...

Replies (1)

TDS should be deducted u/s 194D.

 

Kindly contact the insurer and find the reasons for the same.


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