MATURITY AMT. OF LIC POLICY

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Viral Shah (Querist)
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24 December 2010 I HAD TAKEN AN LIC POLICY IN 1995 AND IT HAS GOT MATURED IN 2010, SO, WILL THERE BE ANY TAX ON THE MATURITY AMT. THAT I HAVE RECEIVED IN 2010?????
WILL THERE BE ANY DIFFERENCE AFTER DTC INTRODUCTION IN THIS TREATMENT??

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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25 December 2010 Maturity proceeds including bonus are exempt U/s 10(10D).

Let DTC come then only the position will be clear. It depends upon the fact that from when the EET(Exempt Exempt Tax) Model is made effective from.

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