Dear Friends,
If HDFC life insurance amount withdrawn fully, it is 7 lacs. Will it be taxable income? If not reinvested.
If same amount reinvested in Bank FD’s – then what? Will it be taxable??
Please guide.
How much will be the tax in both cases?
Menu
HDFC Life Principal withdrawal - Taxable or not?
Replies (1)
The principal amount withdrawn is exempt.
The amount if reinvested in bank FD, then the interest on bank FD will be taxable at normal slab rate.
Recent Threads
- AIS NOT OPEN
- ICICI BHARAT 22 FOF AND NASDAQ 100 FOF CAP GAIN TA
- Schdule BFLA and CFL Error regarding adjustment of
- CIRCULAR WITH RESPECT TO WAIVER OF INCOME TAX OUTS
- How does opting for 44AD impact speculative income
- New GSTR 1
- Purchase and sale of land , showroom, building
- GTA provides services to unregistered person.GST i
- TDS on Sale of Ancestral property
- Tds on transport contractor
Related Threads
CAclubindia
