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Non-resident receiving policy amount on maturity
Non-Resident has taken Life Insurance Policy before March- 2012 and now, on its maturity he received Rs. 100000/-. whether TDS should be deducted on the said sum received by the Non-Resident? If deducted than at what rate?
Replies (1)
Yes, TDS is to be deducted only on the profit or interest portion of the policy amount @ 10% if PAN is available, else @ 30%
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