Lic policy matured .
This query is : Resolved
27 June 2013
Dear Expert ,
Whether the LIC Policy matured amount received is taxable when the premium amount paid in past towards for that LIC policy which is matured and got deducted u/s80C.
Whether the LIC Policy matured amount received is taxable when the premium amount paid in past towards for that LIC policy which is matured and got deducted u/s80C.
27 June 2013
all sum received is exempt.
27 June 2013
Sir
Can we claim the LIC policy amount received for exemption in case the LIC premium amount not covered under 80C because of limit was crossed.
Can we claim the LIC policy amount received for exemption in case the LIC premium amount not covered under 80C because of limit was crossed.
27 June 2013
YES YOUR ALL AMOUNT RECEIVED IS EXEMPT.
29 June 2013
Thank you sir.....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- TDS _Long term Capital Gain ref.sec 214 Table 2
- TAX AUDIT QUESTION
- Grand in aid
- ASMT-10 received from A O
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Taxability of credit in canara bank ET & T section (NRO)
- Gst on travel by air for business purposes
- Loss of interest in PF transfer from EPFO to Trust
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
