Tds refund on insurance proceeds received by family

[Preeti Sharma]

If on the death of the insured in accident, life insurance proceeds received by his wife and children (minor), TDS has been deducted. Now how can we claim Tds refund? As insurance proceeds received on the death of the insured are tax free. Pls help.

AI Summary

Family Seeks TDS Refund on Tax-Free Life Insurance Proceeds; Filing Income Tax Return Advised by Experts A family received life insurance proceeds after the insured's death in an accident, but Tax Deducted at Source (TDS) was applied. They seek advice on claiming a TDS refund, as these proceeds are tax-free. An advisor suggested filing an Income Tax return, declaring the insurance proceeds as tax-free income, and including all other taxable income to claim the refund. Another participant agreed with this advice.