Easy Office
LCI Learning

LICI maturity Amount

This query is : Resolved 
Profile Image

Profile Image

(Querist)
04 August 2009 One my client has got maturity amount (Rs. 2 lacs +) of LICI Policy after completing 20 Years. I got confused whether this amount is taxable or not ?
Kindly suggest.
Profile Image

CA.PRAMOD KUMAR PANDA

Profile Image

CA.PRAMOD KUMAR PANDA (Expert)
05 August 2009 Exempted Income. neednot worry.
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
05 August 2009 Pl check with section 10(10D) of the Income tax Act,1961.Through this section maturity proceeds of certain LIC policies are tax free.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links