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 ?
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?
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)
CAclubindia
