Tds on ulip proceeds

Hello.  I have salary income of 8 lakh pa.

Tax planning was made on this basis, in April 2014.

Then, i received maturity proceeds from LIC-ULIP bima plus-  of Rs 6 lakh in Mar15.

LIC did tds of 2% to it.   It is showing in my form 26AS.

So my planning went wrong.

Which itr form should I use?   Is there any way to get this tds refund?   This ULIP was of 10 yrs duration.  Invested in Equity fund.  Can I get LTCG benefit?

Please guide me.

 

 

Replies (1)

In order to get TDS refund, you are required only to e-file Income Tax Return. And, since you are salaried, you can use ITR 1 to e-file your Income Tax Return. While filing your Income Tax Return online, you need to enter the Form 16 details as place specified in ITR form. Once you are done e-filing, you will get ITR-V receipt (if you are not using digital signature while e-filing Income Tax Return). Now, in order to verify your e-filing, you will have to either verify your e-filing by sending the completely filled ITR-V form to CPC (Central Processing Center), bangalore within 120 days of filing your Income Tax Return via ordinary post or speed post only or you can verify your e-filing by authenticating your Aadhar number using One time password which you will receive on the mobile number linked to your Aadhar number. Once you are done verifying your e-filing, your Income Tax Return will get processed and you will get intimation of that via emil intimation u/s 143(1). 

So, after your Income Tax Return gets processed, you will be sectioned the refund (if any).

You can check the status of your refund at following link.

https://tin.tin.nsdl.com/oltas/refundstatuslogin.H T M L

Hope this helps,

Regards,

Prashant

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

Jain Ankit and Co

Gurgaon

CA Inter

View Details
Company
25 August 2026
Senior Accountant

MG Associates

New Delhi

CA Inter

View Details
Company
Featured 19 August 2026
Chartered Accountant

apricus india

Pune

CA

View Details
Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

K R Kiran Kumar & Associates

Bengaluru

CA Inter

View Details