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Taxability on maturity of lic proceeds

Others 331 views 3 replies

Dear Sir,

 Please clarify me,

1) If TDS is deducted on maturity of LIC, then what amount of income(i.e, principal+bonus or only principal/bonus) is to be shown in Total Income, and under what Head of Income it should be shown.

2) Similarly if Pension amount received on retirement what amount is tax free i.e, Principal+Interest or only Principal/ Interest

 

Replies (3)

1. Total of receipt amount under head income from other sources.

2. Total of pension receipt is taxable

Thank you Sir

Most welcome


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