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Lic maturity proceeds

This query is : Resolved 

21 July 2016 Dear Sirs, I have received rs.760000 as maturity proceeds of lic and tds @ 2 % is deducted on it by the insurer. premium paid exceeds 10% of the sum assured.what amount is taxable in my hand entire 760000/- to be included in my income tax return ? shall it be entered under income from other sources ?


21 July 2016 Rs. 7,60,000 is taxable under IFOS.

21 July 2016 SIR,
I HAVE PAID 600000 PREMIUM. THEN 760000/- IS FULLY TAXABLE?


22 July 2016 SIR I AVE PAID 600000 AS PREMIUM .THEN 760000 IS FULLY TAXABLE

22 July 2016 The wording in section 10 (10D) (c)/(d) is 'any sum received' which means 7,60,000 is taxable.



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