Lic proceeds

shalini (CA) (525 Points)

10 August 2018  

Hi,

I have a doubt. My client has got 1,48,000/- LIC maturity proceeds and TDS of 1% has been deducted u/s 194DA. Is it understood that if bank has deducted TDS that means this proceeds is taxable or should I check 10%/20% premium criteria to check the taxability of this LIC maturity proceeds.

Thanks