Income is taxable or not
This query is : Resolved
25 February 2016
Intrest received on maturity of LIC policy is Taxable or Not
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.
25 February 2016
Except for key insurance policy.
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