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Insurance amount received on maturity
Sir, on maturity, the insurance amount is received, so,if it is exempted we offer u/s.10(D), if it is taxable, then under which section it has to be brought to the taxation under income tax Act. kindly help.
Replies (3)
Is TDS u/s 194DA deducted from maturity amount or not by insurance company.??
Yes sir. you are correct, it is deducted.
Maturity Amount less all Premium paid by you is taxable as income from other sources. and you can claim TDS which is deducted, in your IT return.
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