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Taxability of maturity proceeds from hdfc life insurance

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Querist : Anonymous

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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.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
06 August 2018 If you go by the section, maturity proceeds is taxable.
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 August 2018 THANKS, BUT WHY THE CAPITAL INVESTMENT IS ALSO TAXABLE. IS IT JUSTIFIABLE.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
08 August 2018 To me, not at all justifiable.

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