LICI Maturity Amount
This query is : Resolved
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 at mhlaskar@gmail.com
Kindly suggest at mhlaskar@gmail.com
05 August 2009
Amount received from LIC is exempt u/s 10(10D). Hence it will not be taxable in your hands.
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