02 July 2024
I have received amount on maturity of pli on retirement. Is it taxable or exempt ? as they have deducted tds u/s 194 d . If it taxable then it is taxable under which head and any deduction available.
02 July 2024
Tax Benefits of PLI Under Section 10 (10D): If the sum assured is a minimum of ten times the annual premium, any income received as a maturity benefit will be entirely free from taxation. Section 10(10D) exempts bonuses and surrender benefits from taxation.
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