matured amount received from LIC
This query is : Resolved
20 June 2009
i have a LIC policy, which is to be matured within 15 days. i want to ask that matured amount will taxed or tax free.
please solve the querry and send the ans to (caamitbansal2007@gmail.com).
Thankx in advance
please solve the querry and send the ans to (caamitbansal2007@gmail.com).
Thankx in advance
20 June 2009
Dear Amit
The amount on LIC shall be exempt u/s 10(10D) of IT Act subject to 3 conditions
1)LIC taken under key man insurance policy
2)insurance taken for dependant suffering disability u/s 80DD
3)if any premium paid over 20% of principal sum
The amount on LIC shall be exempt u/s 10(10D) of IT Act subject to 3 conditions
1)LIC taken under key man insurance policy
2)insurance taken for dependant suffering disability u/s 80DD
3)if any premium paid over 20% of principal sum
20 June 2009
Agree
20 June 2009
its exempted income
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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- TAN for Partnership
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Specified Profession
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Agriculture income or business income
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
