Relaxation on income from LIC

 

(Querist)
03 January 2017

I have received payment from LIC for a investment policy for which I was paying premium every year. This payment cane in 2015-16.And I am submitted ITR foe this year already but did not declare this income.Is there any way I can amend this now .


KAVIRAJA ADDANGADI (Expert)
03 January 2017

LIC policy maturity is exempted income. If you not disclose not make any difference , but you keep record or advice received from lic.

Gaurav Gupta (Querist)
03 January 2017

but if I don't declare it , won't it be called black money which is nowhere disclosed.Though payment was through cheque to me.

Gaurav Gupta (Querist)
03 January 2017

Thanks Kaviraja



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