I recieved rs 283000 as lic policy matured
And tds is deducted under sec 194 Da
I am confused about the maturity amt to be taxable in full or only benefit/gain for maturity is taxble
Plz help... Its urgent
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Tds under sec 194da
Replies (2)
only gain amount will be taxable
if your LIC premium AMOUNT IS MORE THAN 20% OF SUM ASSURED THEN ENTIRE MATURITY AMOUNT IS TAXABLE, IF THE POLICY WAS ISSUED BEFORE 01/04/2012
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