Taxability of maturity proceeds from hdfc life insurance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 August 2018
DEAR EXPERTS
IN CASE, IF THE MATURITY PROCEEDS IS NOT EXEMPT U/S 10(10D), AS THE PREMIUM AMOUNT PAID IS MORE THAN 10% OF ASSURED AMOUNT, THAN THE TOTAL MATURITY PROCEEDS IS TAXABLE OR ONLY THE INCOME ON MATURITY (EXCLUDING AMOUNT INVESTED) IS TAXABLE, AS THE TDS IS ALREADY DEDUCTED U/S 194DA BY THE INSURANCE COMPANY. PLEASE ADVICE.
THANKS IN ADVANCE.
IN CASE, IF THE MATURITY PROCEEDS IS NOT EXEMPT U/S 10(10D), AS THE PREMIUM AMOUNT PAID IS MORE THAN 10% OF ASSURED AMOUNT, THAN THE TOTAL MATURITY PROCEEDS IS TAXABLE OR ONLY THE INCOME ON MATURITY (EXCLUDING AMOUNT INVESTED) IS TAXABLE, AS THE TDS IS ALREADY DEDUCTED U/S 194DA BY THE INSURANCE COMPANY. PLEASE ADVICE.
THANKS IN ADVANCE.
06 August 2018
If you go by the section, maturity proceeds is taxable.
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2018
THANKS, BUT WHY THE CAPITAL INVESTMENT IS ALSO TAXABLE. IS IT JUSTIFIABLE.
08 August 2018
To me, not at all justifiable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- Transporter Declaration form
- Copyright software
- LC charges in relation to Asset purchased should be Capitalised ?
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Multiple trade mark
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
