my client received maturity amount of lic Rs.324000.it is exempt u/s 10 (10d).but TDs was deducted since he had not provided pan number. to claim TDs where he can show the maturity value. he has no other income.
Vijay Mohan (637 Points)
25 July 2019my client received maturity amount of lic Rs.324000.it is exempt u/s 10 (10d).but TDs was deducted since he had not provided pan number. to claim TDs where he can show the maturity value. he has no other income.
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 25 July 2019
If he not provide PAN than no TDS reflected in 26 AS
023333 SRIRAJ S
(2 Points)
Replied 25 July 2019
RAJA P M
("Do the Right Thing...!!!")
(127140 Points)
Replied 25 July 2019
Susmita Dutta, CA , CPA
(CA )
(2141 Points)
Replied 26 July 2019
Where the premium paid, is more than 10% of the sum assured – Any money received from a life insurance policy, where the premium is more than 10% or 20% of the sum assured as the case may be, is fully taxable.
Disclose the amount received under the head 'income from other sources' and pay tax according to the income tax slab.
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