Lic Maturity Amount
This query is : Open
arvind r shah
(Querist)
29 August 2020
If premum paid details are Not availabe can i credit maturity amount to capital account. Why capital gain? Total amount bifurcation will be available in lic maturity statement.Difference of maturity amount and sum assured will be bonus. All amt recd is not liable to capital gain tax. Is it ok
CA Raj Doshi
(Expert)
30 August 2020
Yes. LIC maturity can be credited directly under capital account. No need of capital gains if the premium paid per annum did no exceed 20% or 10% of sum assured as the case may be.
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