Tax rules on lic maturity amount

ACHIN (ADVISOR) (27 Points)

31 July 2015  

Dear Friend,

LIC presently deducted TDS @ 2% on maturity on total amount (Premium paid + Bonus). I have got the amount after 9 years from my date of commencement. My tax slub is 20% how can I calculate tax when I will submit ITR. Am I liable for pay any tax on LIC maturity.

 

Thanks