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.....
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