Whether Survival benefits receibed at time of maturity of LIC policy is taxable or not ?
Dhananjay Reddy (student) (26 Points)
06 August 2011Whether Survival benefits receibed at time of maturity of LIC policy is taxable or not ?
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 08 August 2011
LIC survival benefits under "endowment" and "whole llife" policies are exempt under sec 10(10D)
while the keyman insurance and pension plans are taxable.
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