Income is taxable or not
This query is : Resolved
RAJNEESH PAL
(Querist)
25 February 2016
Intrest received on maturity of LIC policy is Taxable or Not
Gokul Sharma
(Expert)
25 February 2016
If policy is before 1.4.12 and premium is less than 20% of sum assured and if policy is after 1.4.12 and premium is less than 10% of sum assured than any amount received on surrender/matured of LIC is exemt from tax.
Gokul Sharma
(Expert)
25 February 2016
Except for key insurance policy.
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