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.
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