If cross the 80 c c limit

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Jyoti (Querist)
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14 February 2019 Dear sir/mam ,
I have 3 lic money back policies
1) first premium is 250000
2) second premium is 36000
3) third premium is 27000
Is the maturirty ammount is taxable ?

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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14 February 2019 Any sum received from a life insurance police whether it is money back amount or matured LIC receipt, it is 100% tax free u/s 10(10D)

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Jyoti

Jyoti (Querist)
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15 February 2019 My question is if i invest more then 3 lakh then also 10 (10D) is applicable on the other hand 80 c limits is just 150000

Jyoti

Jyoti (Querist)
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18 February 2019 My question is if i invest more then 3 lakh then also 10 (10D) is applicable on the other hand 80 c limits is just 150000 ,will all the maturity ammount of lic policy is tax free?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 September 2021 For tax-ability on maturity amount, individual policy's sum assured value is to be checked. If it is more than 10 times of premium paid annually, it will be taxfree; otherwise not. (assuming all the policies purchased after April, 2012)

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