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Lic policy matured amount

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(Querist)
28 March 2016 UNDER SECTION 10(10D) T.D.S. DEDUCTED ON MATURED AMOUNT . HOW TO SHOWN THE THIS INCOME IN FORM 1(SARAL) AND GET THE REFUND?
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CA Shyam Agarwal

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CA Shyam Agarwal (Expert)
28 March 2016 TDS should not be deducted on this amount. Make sure that TDS deducted on LIC maturity amount.

IF its happened then file your income tax return as per your actual income, fill the maturity amount in exempt income column, and claim tds amount for refund
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Amol S Joglekar

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Amol S Joglekar (Expert)
28 March 2016 Please check if your maturity amount is TAXABLE as per the conditions set out under section 10(10D). If it taxable, then show the same accordingly and claim the TDS credit. If the same is exempt, follow the route as suggested by CA Shyam Agarwal.
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