income tax on lic maturity

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....ncome tax on lic maturity<br> Query (Issue) Started By: - satbir singh wahi Dated:- 2-1-2016 Last Reply Date:- 8-1-2016 Income Tax<br>Got 5 Replies<br>Income Tax<br>One time LIc premium Nov 2004 &#837....

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....7; 575000 Maturity Amount &#8377; 970000 received on Jan 2015 TDS &#8377; 19500 What is taxable amount. Reply By Ganeshan Kalyani: The Reply: Lic maturity amount should be tax free u/s 10 (10D). ....

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....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 will be taxable as tds deducted also.also. Reply ....

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....By satbir singh wahi: The Reply: Pls guide whether taxable amount will be 970000 or 395000 (970000-575000) i.e maturity amount less premium paid Reply By satbir singh wahi: The Reply: Sir PLs r....

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....eply to query Reply By Ganeshan Kalyani: The Reply: In my view entire maturity amount will be the taxable amount for TDS purpose and not the net amount because on the premium amount so paid you have....

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.... already benefited under section 80C at the time of investment. Hence no dual benefit and total maturity is subject to tax. Thanks.<br> Discussion Forum - Knowledge Sharing ....