tds on Insurance Premium

[PONNADA B K RAVIKUMAR]

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

AI Summary

No TDS Deduction Required on Insurance Premiums for Group Personal Accident Policies A query was raised regarding whether Tax Deducted at Source (TDS) should be deducted on a payment of Rs. 1,50,000 to Future Generali India Insurance for a Group Personal Accident Policy. The response clarified that TDS is not applicable on insurance premiums paid to insurance companies.