tds on Insurance Premium
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TDS on insurance premium not deductible when paid to an insurance company for group personal accident cover.
Premiums paid to an insurance company for a Group Personal Accident policy are not subject to withholding; there is no requirement to deduct tax at source on such insurance premium payable to the insurer. (AI Summary)
Premiums paid to an insurance company for a Group Personal Accident policy are not subject to withholding; there is no requirement to deduct tax at source on such insurance premium payable to the insurer. (AI Summary)
We are paying Rs.1,50,000/- to Future Generalli India Insurance towards Group Personal Accident Policy for one year , whether we have to deduct the tds on this amt or not, if we have to deduct then under which sec , Pls clary
TaxTMI 