What I do if LIC maturity amount of Rs.2,6000 is showing Fully Taxable under INCOME FROM OTHER SOURCES

Q & A ForumCategory: InsuranceWhat I do if LIC maturity amount of Rs.2,6000 is showing Fully Taxable under INCOME FROM OTHER SOURCES
prince_8487 asked 8 years ago
Myself  Abhishek, my age is 59 year . I am a salaried person . I filed an ITR last year (FY 2016-17) on 05 August 2017.   In this  filled  ITR  each n every thing was cleared. No any dues on IT Department     . After 4-5 Month  I received a notice cum Demand Letter from IT Department  under section 139.  In this notice I saw there was a due of Rs.93,500/-  E-tax on IT department    When I saw my Form 26AS  for ( FY 2016-17) & get that I was received an amount from LIC of Rs. 2,60,000/- after maturity I submitted a grievance under E-Nirvana, but no any positive response from IT Department I heard LIC Maturity amount is not taxable Under section 10 , SECTION 10(D)  What I do next I will pay this E-Tax or E- File the revise  ITR for to avoid this tax of E-Tax Rs. 93,500/-
1 Answers
Sreekanth Staff answered 8 years ago
Dear Abhishek ji, When did you receive the notice? In your Form 26AS, did LIC deduct any TDS? Suggest you to kindly consult a Chartered Accountant immediately in this regard.   Regarding Sec - 10, you may kindly go through this link...  
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