Lic maturity proceeds taxability

Sowmya.S.Balan (Paid Assistant) (749 Points)

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 ?