Rahul Sharma (Chartered Accountant) 12 September 2020
My query is: Someone invests in the SBI Life Smart money-back Gold policy. Money-back starts from 3rd Year 20%,6th year 20%,9th year 20% & 12th Year 50%
Received first money back on 31.05.2019 Rs.199789 after TDS u/s 194DA @ 1%.
Does the amount receive Rs.199789 is taxable or exempt for FY 19-20? if it is taxable, Then how much amount is taxable out of Rs. 199789.