Lapsed Life Insurance Policy

Joseph (Student) (21 Points)

27 November 2021  

I have come across a situation where TDS has been deducted u/s 194DA( Maturity proceeds from life insurance), but the issue is that the premium was paid only once and the policy had lapsed. The policy was taken after 1/4/2012.

The receipt shown under 26AS is less than the premium paid. Should the amount be entered while filing Income Tax Return and if so, where?

Any help will be appreciated.