Taxability of maturity proceeds from hdfc life insurance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 August 2018
DEAR EXPERTS
IN CASE, IF THE MATURITY PROCEEDS IS NOT EXEMPT U/S 10(10D), AS THE PREMIUM AMOUNT PAID IS MORE THAN 10% OF ASSURED AMOUNT, THAN THE TOTAL MATURITY PROCEEDS IS TAXABLE OR ONLY THE INCOME ON MATURITY (EXCLUDING AMOUNT INVESTED) IS TAXABLE, AS THE TDS IS ALREADY DEDUCTED U/S 194DA BY THE INSURANCE COMPANY. PLEASE ADVICE.
THANKS IN ADVANCE.
IN CASE, IF THE MATURITY PROCEEDS IS NOT EXEMPT U/S 10(10D), AS THE PREMIUM AMOUNT PAID IS MORE THAN 10% OF ASSURED AMOUNT, THAN THE TOTAL MATURITY PROCEEDS IS TAXABLE OR ONLY THE INCOME ON MATURITY (EXCLUDING AMOUNT INVESTED) IS TAXABLE, AS THE TDS IS ALREADY DEDUCTED U/S 194DA BY THE INSURANCE COMPANY. PLEASE ADVICE.
THANKS IN ADVANCE.
06 August 2018
If you go by the section, maturity proceeds is taxable.
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2018
THANKS, BUT WHY THE CAPITAL INVESTMENT IS ALSO TAXABLE. IS IT JUSTIFIABLE.
08 August 2018
To me, not at all justifiable.
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