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For 10(10d)

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(Querist)
26 March 2012 Dear Sir,

i want to know that if there is LIC maturity amount received after certain period of time then what to do with that LIC maturity amount U/s 10(10D) it is exempt but how we can claim under 80(C). please tell me how that figure shown in the return?
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
26 March 2012 There is nothing to do u/s 80C with LIC maturity amount. LIC premium paid is deductible u/s 80C from GTI and amount received on maturiy is exempt u/s 10(10D).
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Mihir Doshi

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Mihir Doshi (Expert)
26 March 2012 Agree with expert.

Section 10 speaks about exempted income.

Thanks
Mihir Doshi
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