Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 March 2012
Sir, please tell me rate of tds along with section.
exp. ram have taken lic policy on 01/04/2004 amt rs.100,000 for 30 years. He pay premium rs. 30,000 p.a. ever year.
Please tell me what rate of tds and amt will be deducted by LIC company at the time of maturity.
exp. ram have taken lic policy on 01/04/2004 amt rs.100,000 for 30 years. He pay premium rs. 30,000 p.a. ever year.
Please tell me what rate of tds and amt will be deducted by LIC company at the time of maturity.
29 March 2012
It is tax free......
29 March 2012
Amount received on maturity of life insurance policy is exempt from tax. Accordingly, LIC will NOT deduct TDS at the time of maturity.
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- ITDS U/S.194T of Firm
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Eway bill not cancelled within 24 hous what can be due
- TDS Return Q1 FY 2026-27
- GST not cancelled by tenant
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
