Lic money back policy income
This query is : Resolved
02 February 2013
Hi,
I have taken LIC money back policy for 20 years, and I received 20% of sum assured after 5 years of policy commencement, is this 20% amount is my taxable income? Under which section?
I have taken LIC money back policy for 20 years, and I received 20% of sum assured after 5 years of policy commencement, is this 20% amount is my taxable income? Under which section?
Dintakurthi Tirumala
(Expert)
02 February 2013
It is exempted under section 10(10(D)) of income tax act
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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