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TMI Blogincome tax on lic maturityX X X X Extracts X X X X X X X X Extracts X X X X ..... One time LIc premium Nov 2004 ₹ 575000 Maturity Amount ₹ 970000 received on Jan 2015 TDS ₹ 19500 What is taxable amount. - Reply By Ganeshan Kalyani - The Reply = Lic maturity ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount should be tax free u/s 10 (10D). Please check with the branch. - Reply By satbir singh wahi - The Reply = Since the single premium exceeds 10% of sum assured . The maturity Rs, 970000 wil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l be taxable as tds deducted also.also. - Reply By satbir singh wahi - The Reply = Pls guide whether taxable amount will be 970000 or 395000 (970000-575000) i.e maturity amount less premium p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid - Reply By satbir singh wahi - The Reply = Sir PLs reply to query - Reply By Ganeshan Kalyani - The Reply = In my view entire maturity amount will be the taxable amount for TDS purpose and no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the net amount because on the premium amount so paid you have already benefited under section 80C at the time of investment. Hence no dual benefit and total maturity is subject to tax. Thanks. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income tax on lic maturity - Query Started By: - satbir singh wahi Dated:- 2-1-2016 Income Tax - Got 5 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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