Taxable amount
This query is : Open
16 July 2018
I have policy of icici prudential life link wealth sp bought in 2010single premium paid 3lacs
sum assured 375000
amt rececived 450000
tds deducted @ 1% u/s 194da
whether full amount of 450000 taxable or 150000being excees of premium paid taxable.
please advise as its urgent
sum assured 375000
amt rececived 450000
tds deducted @ 1% u/s 194da
whether full amount of 450000 taxable or 150000being excees of premium paid taxable.
please advise as its urgent
16 July 2018
If you go by the section and form 26AS, Rs.4,50,000.
16 July 2018
Sir but it isn't it double taxation as premium when paid was claimed under 80c exemption and was taxable and again it is taxed.
if we read circular no. 7/2003 dated sept 05/2003. it is only excess amount taxable
if we read circular no. 7/2003 dated sept 05/2003. it is only excess amount taxable
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