LIC Policy Pre Maturly Surrender Value - taxable or not ?
This query is : Resolved
04 February 2021
If LIC policy is prematurely surrendered, will the surrender value received, be taxable or not as per income tax act ?
25 September 2021
Depends upon hte eligibility of the policy u/s. 10(10D) of IT act...
In general. if TDS gets deducted from the surrender value, it would be taxable.
In general. if TDS gets deducted from the surrender value, it would be taxable.
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