Bonus from LIC

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(Querist)


18 July 2010

Dear Experts,
I want to know that is the bonus amt received from LIC before the maturity (in case of money back policy) or after the maturity is taxable or not?


CMA. CS. Sanjay Gupta (Expert)



18 July 2010

Fully exempted from tax u/s 10(10D) of the Income Tax Act, 1961.



CA.ViVeK M ACA (Expert)


18 July 2010

The bonus is fully exempted from tax u/s 10(10D)


DR GAURAV GUPTA FCA, FCS, LL.B (Expert)


18 July 2010

fully exempted



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