Taxability of income under which head
This query is : Resolved
01 February 2016
LIC sum which is covered under the provisions of TDS section 194DA is taxable or not
02 February 2016
Taxable under the head 'Income From Other Source' if the annual premium for that LIC is more than 10% (policy issued on or after 1-4-2012) or 20% (Policy issue on or after 1-4-2003 but on or before 31-03-2012) of the Sum Assured (as the case may be);
Refer section 10(10D) for exemption details.
Refer section 10(10D) for exemption details.
02 February 2016
Taxable under the head 'Income From Other Source' if the annual premium for that LIC is more than 10% (policy issued on or after 1-4-2012) or 20% (Policy issue on or after 1-4-2003 but on or before 31-03-2012) of the Sum Assured (as the case may be);
Refer section 10(10D) for exemption details.
Refer section 10(10D) for exemption details.
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