10 March 2021
Is there any lock in period for maturity of single premium insurance policies ? Will it be taxable after seven years of payment of the premiums/ An the TDS on receipt be used for liability on other source of income ?
24 September 2021
Single premium policies are always taxable. Because the premium paid is always more than 1/10th of the assured value. Yes, TDS can be adjusted against any other tax liability.
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