SIR/MADAM
I HAVE PAID ONE TIME PERMIUM RS. 7,00,000/- IN LIC ENDOWMENT PLAN IN YEAR 2010 . SUM ASSURED RS.7,70,000/-
I RECD. MATURITY AMT. RS. 11,10,020/- IN MY ACCOUNT IN 2016,
LIC DEDUCT TDS 1% (U/S 194DA) ON MATURITY AMT. OF RS.11,100/- AS TDS.
IS MY INCOME IN THIS POLICY IS TAXABLE & HOW I CALULATE MY TAX LIABILITY IN THIS POLICY (IF ANY) ??
PLS. SUGGEST...
CAclubindia
