Lip payment u/s194da
This query is : Resolved
03 February 2016
Whether LIP payment exceeding Rs one lac received which is subject to TDS u/s 194DA is taxable as income
03 February 2016
http://taxguru.in/income-tax/latest-amendments-life-insurance-policies-eligible-deduction-80c-income-tax-act-1961-tds.html
04 October 2021
Yes, its taxable, as the exemption u/s. 10 (10D) not eligible for such policies.
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