MATURITY AMT. OF LIC POLICY
This query is : Resolved
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??
WILL THERE BE ANY DIFFERENCE AFTER DTC INTRODUCTION IN THIS TREATMENT??
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.
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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