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Taxability of LIC Maturity proceeds
Does the maturity proceeds received from LIC is wholly taxable under income from other sources if , premium premium paid is more than 10 percent ? or only difference amount of maturity proceeds & sum assured is taxable ??TDS is deducted u/s 194DA
Replies (2)
LIC maturity proceeds is exempt. Show it under EI schedule. Claim TDS in TDS schedule and enter Exempt Income as head of income
good clarification and information
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