Lic
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 July 2012
Dear Expert,
Whether all the LIC matured is taxable under Income tax or is there any restrictions on the same. Kindly guide me.
Thanks in advance
Whether all the LIC matured is taxable under Income tax or is there any restrictions on the same. Kindly guide me.
Thanks in advance
03 July 2012
Amount received on maturity is exempt from income tax except where premium paid is more than 10% of assured amount in any year.
w.e.f 01/04/2012
w.e.f 01/04/2012
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