maturity of LIC Policy
This query is : Resolved
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
(Expert)
09 May 2009
MATUARITY FROM LIC IS EXEMPT U/S10
09 May 2009
More specifically section 10(10D) of The Income tax act,1961.
Manmohan ACA, CS
(Expert)
10 May 2009
agree
CA Nitin Wadhwani
(Expert)
10 May 2009
It will depend upon the type of policy.
Please clarify more to get the correct answer.
Please clarify more to get the correct answer.
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