Lic matured
This query is : Resolved
Querist : Anonymous
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
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
12 August 2013
Amount received on maturity of LIC is EXEMPT u/s 10.
Show it under exempt income in your return.
Show it under exempt income in your return.
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