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Interest received form lic

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 April 2015 Dear expert
plz let me know interest received from LIC at the time maturity of policy. whether this interest is taxable or not...


please confirm...
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
30 April 2015 Please give some details of interest, because, generally, at the time of maturity of Policy, Bonus and sum assured is returned which is exempt U/s 10(10D) under certain conditions.
.
However, due to delay on the part of LIC in releasing the due payment to the policyholder, if any interest has been given by LIC, it is taxable.
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