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maturity of LIC Policy

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(Querist)
09 May 2009 if my policy matures after a specific period and i will receive the maturity amount. is this amount taxable?
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CA.MANOJ LAMBA

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CA.MANOJ LAMBA (Expert)
09 May 2009 MATUARITY FROM LIC IS EXEMPT U/S10
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
09 May 2009 More specifically section 10(10D) of The Income tax act,1961.



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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
10 May 2009 agree
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
10 May 2009 It will depend upon the type of policy.
Please clarify more to get the correct answer.

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