Sbi life insurance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2017
I had invested R. 250000/- in 2011 in SBI Life Insurance Scheme for 5 years. The scheme matured in 2016 and the proceeds credited to my bank account. The details in 26AS show the maturity amount of Rs 378500/- and TDS deducted is 1% i.e. 3785/-. Is it taxable?
09 June 2017
Yes taxable.Please see section 194DA of the Income tax Act,1961 for full details.
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