Section 194DA
5paisa Research Team
Last Updated: 31 Jan, 2025 06:57 PM IST
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Content
- What Is Section 194DA?
- Applicability Of Section 194DA
- What Is Rate Of TDS Under Section 194DA?
- How To Calculate Income Tax Under Section 194DA?
- Exemptions To TDS Under Section 194DA
- Due Date For Depositing TDS Under Section 194DA
- Penalties For Non-Compliance With Section 194DA
- Conclusion
Tax deductions at source (TDS) are also necessary for insurance commission & life insurance premium payments, just like they are for other types of income such as salaries, interest income, & rental income.
The relevant provisions are Sections 194D & 194DA of Income Tax Act of 1961, respectively. Let's examine these clauses in more detail.
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Frequently Asked Questions
Yes, non-residents can claim benefits under Section 194DA.
No specific documentation is required for TDS deduction under Section 194DA.
Policy Loans or Surrenders: Policy loans or surrenders are not subject to TDS under Section 194DA.