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LIC maturity
How to treat the LIC maturity amount for which TDS is deducted & where to show it in the ITR?
Replies (2)
Since TDS has been deducted, we assume that premium paid is more than 10% / 20% (as the case may be), of the sum assured. Hence taxable. Show it as "Income from from other sources".
Since TDS is deducted, it is assumed to be taxable and not exempt u/s 10(10D). You have to show it under the head "INCOME FROM OTHER SOURCES"
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