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
you have to check these limits . as the tds is deducted , this means your maturity proceeds are taxable.
U must check the limits, it might be taxable.
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