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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2012 Sir, please tell me rate of tds along with section.
exp. ram have taken lic policy on 01/04/2004 amt rs.100,000 for 30 years. He pay premium rs. 30,000 p.a. ever year.

Please tell me what rate of tds and amt will be deducted by LIC company at the time of maturity.
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B Ravi Kumar ACMA, MBA, M Com

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B Ravi Kumar ACMA, MBA, M Com (Expert)
29 March 2012 It is tax free......
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
29 March 2012 Amount received on maturity of life insurance policy is exempt from tax. Accordingly, LIC will NOT deduct TDS at the time of maturity.
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