Hi all,
Our company has taken insurance for directors & officers. Also insurance is taken on assets of the company. Do we need to deduct tds on premiums for those 2 policies? If so , at what rate do we need to deduct . Please reply with explanation.
Thanks in Advance..
As I understand, TDS is not applicable on insurance premium as it is not covered within the purview of TDS. Hence no need to deduct it from premium.
Thanks Poornima..
BHUPINDER SHAH AND COMPANY
New Delhi
CA Inter
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Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
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