TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Section 194DA: Tax Deduction on Life Insurance Payments Reduced from 5% to 2% Effective October 2024.</h1> Clause 54 of the Finance (No. 2) Bill, 2024 proposes an amendment to section 194DA of the Income-tax Act concerning payments under life insurance policies. Currently, a five percent tax deduction at source is required on sums paid to residents under such policies, excluding amounts not included in total income under section 10(10D). The amendment seeks to reduce this tax deduction rate from five percent to two percent, effective from October 1, 2024.
TaxTMI 
TaxTMI 
