Bonus on maturity of lic policy

Malhar Deshpande (211 Points)

26 April 2017  

Sir, I purchased 25 years money back policy from lic  for my daughter in dec1992. This year I will get bonus as maturity proceeds. Premium was 4477 and sum assured was 53,500. As per policy I was to pay premium for 18 yrs only.I already received sum assured in 5 parts. Now is the bonus which I will get as policy proceeds on maturity taxable? how to show in ITR. Which section of IT. Or should I add it in other sources income