Lic bima bachat taxability

Others 746 views 6 replies

I have invested Rs 617500 in BIMA bachat in 2014 I got Policy of Rs 8 lakhs.in 2017 I received Rs 120000 less TDs Rs 1200.I have not used invested amount for deduction u/s 80 C my question is whether amount of money back and if I surrender the policy amount received is taxable

Dilip Phatak

Replies (6)

Rs. 1200 TDS Deducted under Which Section

in my opinion, if you not claimed 80c, the amount the you received in excess of your premium will be taxable else your entire maturity proceeds will be charged to income tax
U/S 194DA I.TAX ACT how to show this in ITR
show it as your income under income from other sources

Show in Other sources income

Taxable , income from others sources.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details