watch_later 1 month ago
I.t Assess lic policy sum assured Rs:6,95,000/-
Single premium paid Rs:501804/- on Dt:12-08-2013.
Dt:12-08-2016 lic interest amount Rs:104250/-
Dt:12-08-2019 Lic interest amount received Rs:104250/-
Dt:12-08-2022 lic interest amount Rs:104250/-+501804/- received.
My question lic interest amount Rs:104250/- Tds deducted(1%) 1042 net amount rs:103208 transfer bank account credit in f.y 19-20 sec 194da provision in I.t. act.
Assess lic amount taxable or exempted in I t.act .
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