Tax deduction under section 194da

suja pirama (133 Points)

27 July 2022  

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