Taxation of lic amounts

Assess lic sum assured amount rs:695000/-
single premium paid Rs:501804/- payment on 12-08-2013.
policy time :9years.
Dt:12-08-2016 Rs:104250/-
Dt:12-08-2019 Rs:104250/-
Dt:12-08-2022 Rs:501804/- + int paid.
f.y 19-20 Rs:104250/- Tds deducted 1% 1042/- sec 194da AS per 26as.
question:
Assess tax treatment amounts from lic taxable or exempted show in I t returns
Replies (3)
Quick Summary
This discussion explores the taxability of LIC maturity amounts, specifically concerning Section 10(10D) of the Income Tax Act. The core question is whether the received LIC amount, including premiums and interest, is taxable or exempt. There's a debate on whether exceeding a 10% premium threshold makes the entire maturity amount taxable, with differing opinions and a reference to a TaxGuru article for clarification.

Show LIC amount 104250/- in Exempted schedule.
Claim TDS credit of 1042/-

Agree with Pravin
As per Income tax act if more than 10% of sum assured is paid as a premium, the amount received on maturity of LIC will not be exempted under section 10 ( 10d ),hence the whole amount of receipt will be taxable.

I am completely disagree with answer of Mr kapadiya Pravin and Saurabh.
kindly get proper knowledge on the section and give your suggestion.

below is a link particle from tax Guru on taxability of maturity of LIC amount.

https://cleartax.in/s/life-insurance-taxability#:~:text=When%20the%20premium%20paid%20on,under%20Section%2010(10D).

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