Sec 194da lic maturity taxable or exempted

1. As TDS is deducted u/s. 194DA, it means the Assured Value of the policy must be less than 10 lakhs.

If yes, it is taxable. 

2. TDS should have been calculated on the taxable income of Rs. 2 lakhs.

1. There are many inconsistencies in the data. The policy data needs scrutiny.

2. The TDS should not have been deducted if the premium was Rs. 1 lakh for Assured value of 10 lakhs.

3. The TDS deduction on Rs. 90000/- is not traceable from above.

4. The TDS deducted is over 70000/-, not answerable.

From the available data 2 lakh be maximum taxable amount, if at all it be taxable!!!