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Tax Deducted u/s 194DA in form 26AS


Rahul Sharma (Chartered Accountant)     12 September 2020

Rahul Sharma
Chartered Accountant 
 33 points

| My Other Post

My query is: Someone invests in the SBI Life Smart money-back Gold policy. Money-back starts from 3rd Year 20%,6th year 20%,9th year 20% & 12th Year 50%
Premium paid
31.05.2016                    Rs.114553.
31.05.2017                    Rs.114553 
19.05.2018                    Rs.114973
22.05.2019                    Rs.114973
Received first money back on 31.05.2019 Rs.199789 after TDS u/s 194DA @ 1%.
Does the amount receive Rs.199789 is taxable or exempt for FY 19-20? if it is taxable, Then how much amount is taxable out of Rs. 199789.

avater

Raj C Doshi (Practising CA)     14 September 2020

Raj C Doshi
Practising CA 
 289 likes  4107 points

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Rs. 201807 less Rs. 114553 = Rs. 87254 is taxable as Income from other sources for FY 1920.

Regards
CA. Raj Doshi
R C D & Co.
Chartered Accountants
E : raj @ rcdco.in

1 Like
avater

Rahul Sharma (Chartered Accountant)     14 September 2020

Rahul Sharma
Chartered Accountant 
 33 points

View Profile | My Other Post

Thank you Sir


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