sir
if tax is deducted for a insurance policy on maturity under sec 194DA. is that amount recd tax free or to be shown as income pl clarify.mostly people receive amount from sbi life insurance policy and they say that the amount is fully tax free and say that the agents say you claim exemption under sec 10d and need not pay tax. pl explain sir
thank you
Whenever there is tax liability over the maturity, the insurance agencies are required to deduct TDS u/s. 194da.
So, its always taxable..
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