banner_ad

LIC maturity amount received

Others 2071 views 7 replies

One of my friend received lic maturity amount ₹113700 and his tds deducted 1% as per section 194da is this proceeds will be taxable if yes than whole amount
to be include in taxable income or only difference amt to be tax i.e. amount received on maturity less premium paid . plz solve it

Replies (7)

The amount is fully exempted.

Regards

From the available data, its not tax free & whole amount or maturity/surrender proceeds is chargeable to tax under 'income from other sources'

sorry but totally disagree
bcoz as per section 10 (10D)
if annual premium amount is more than 10 % of sum assured than maturity amt not exempted and as per section 194da tds to be deducted by lic company if proceeds are not covered in 10(10D) and amt received is more than 1 lakh and in my case tds deducted so it is taxable

YES IT IS TAXABLE

nikhil ji whole amt or partly
whole amount


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details