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maturity of LIC Policy

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

CA.MANOJ LAMBA

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

Bhaskaran Chackrapani Warrier

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

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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10 May 2009 agree

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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10 May 2009 It will depend upon the type of policy.
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