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Lic matured

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 July 2013 SIR

I HAD A LIC POLICY WHICH MATURED ON 22-2-2013, FOR RS 245000/-

NOW I AM CONFUSED WHETHER IT WILL BE CONSIDERD IN MY INCOME FOR THE F.Y 2012-13 OR EXEMPTED FROM INCOME .

THANKS & RGDS

MUKESH KUMAR
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
12 August 2013 Amount received on maturity of LIC is EXEMPT u/s 10.

Show it under exempt income in your return.
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