income from lic policy matured
This query is : Resolved
21 July 2011
i want to file my company directors itr1 he had a lic moneyback policy matured amount whether it is taxable or not
21 July 2011
Exempted u/s 10(10D) of the Income tax Act,1961.
21 July 2011
Amount received against maturity of LIC policy is not taxable, provided the Annual premium paid under the policy was not hire than 20% of the sum assured under the policy.
21 July 2011
receipt from LIC endowment policy maturity is non taxable
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