TAX EXEMPTION OF INSURANCE POLICY ON MATURITY

Sir

if tds is deducted under sec 194DA does that mean that the policy maturity amount recd is taxable or can he claim exemption for  the amount recd in sec 10d.

thank you

sujatha

Replies (3)
Quick Summary
This discussion clarifies the taxability of insurance policy maturity amounts when Tax Deducted at Source (TDS) under Section 194DA has been applied. The consensus is that even if TDS is deducted, the maturity amount received is generally exempt from tax under Section 10(10D) of the Income Tax Act. Individuals can claim this exemption when filing their tax returns.

TDS is deducted.

 

Can claim exemption u/s 10 while filing. 

Sec 10(10D) EXEMPTED

thank you very much for your reply

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