Insertion of new section 194DA - Payment in respect of life insurance policy

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..... tion 194DA 57. After section 194D of the Income-tax Act, the following section shall be inserted with effect from the 1st day of October, 2014, namely: Payment in respect of life insuran .....

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..... this section shall be made where the amount of such payment or, as the case may be, the aggregate amount of such payments to the payee during the financial year is less than one hundred thousand rupe .....

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