Recording-TDS u/s 194DA, Payment of Insurance transaction-TallyPrime
As per Section 194DA of Income Tax Act, 1961, Insurance companies will deduct TDS on the payment made to the Life Insurance Policy holder at the rate of 1% (one per cent). And we will show you how we can record the entry in TallyPrime software. To Record the transaction of TDS deducted u/s 194DA from your Life Insurance amount you need to pass a Journal Voucher entry in TallyPrime by crediting…
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