Amount received pli maturity
This query is : Resolved
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.
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.
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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