Maturity amount of lic and other policies
This query is : Resolved
NIKUNJ SATUNDA
(Querist)
06 May 2014
DEAR FRIENDS,
PLEASE TELL ME WHAT IS THE TREATMENT OF THE AMOUNT RECEIVED AT THE TIME OF MATURITY OF ANY POLICIES LIKE LIC, MEDICLAIM, AND ANY OTHER POLICIES?????
DOES THE MATURITY AMOUNT IS TAXABLE???
PLEASE TELL ME WHAT IS THE TREATMENT OF THE AMOUNT RECEIVED AT THE TIME OF MATURITY OF ANY POLICIES LIKE LIC, MEDICLAIM, AND ANY OTHER POLICIES?????
DOES THE MATURITY AMOUNT IS TAXABLE???
Nikhil Kaushik
(Expert)
07 May 2014
most of the policies are tax exempted under EEE model...that is exempted at time of investment, at time of earning income and at maturity..
07 May 2014
it is not taxable.......................................
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