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Taxability of LIC Maturity amount
TDS deducted by insurance company on maturity process of insurance policy whether entire proceeds to be offered as income from other sources refering into section 10(10D) or only difference of maturity less premium paid i.e. margin money to be offered as income from other sources.
Replies (3)
In most of such policies....... total maturity/surrender value is taxable in the year of receipt......
Tq for ur reply
But I need reason
But I need reason
Refer section 10(10D) of IT act..
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