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.
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
CAclubindia
