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Interest on lic is taxable or not ?

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(Querist)
07 September 2015 The trust which has invested in LIC and the LIC is paying Interest to Trust it is taxable or not ? please reply sir
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Amol S Joglekar

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Amol S Joglekar (Expert)
07 September 2015 It is very much taxable. Why do you think it is NOT taxable in the hands of trust?
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praveen

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praveen (Expert)
07 September 2015 Hi,

It will be counted as receipts in the hands of the trust and if it is registered trust you need to spend 85% of the receipts. In case you have done that there wont be any tax implications.




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