My Uncle has expired as on 16.05.2015 and in his name there are two LIC Policies for which death claim settlement is to be done from LIC.
Sir, as per my knowledge the 164DA has been inserted in the Income tax section, in which the TDS is to be deducted @ 2% for PAN holder and 20% in case of non PAN holder.
Sir, I want to know is tax will be deducted from the sum payable to my aunty in case of death settlement.
CAclubindia
