Relaxation on income from LIC
This query is : Open
Gaurav Gupta
(Querist)
03 January 2017
I have received payment from LIC for a investment policy for which I was paying premium every year.
This payment cane in 2015-16.And I am submitted ITR foe this year already but did not declare this income.Is there any way I can amend this now .
KAVIRAJA ADDANGADI
(Expert)
03 January 2017
LIC policy maturity is exempted income. If you not disclose not make any difference , but you keep record or advice received from lic.
Message likes :
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Gaurav Gupta
(Querist)
03 January 2017
but if I don't declare it , won't it be called black money which is nowhere disclosed.Though payment was through cheque to me.
Gaurav Gupta
(Querist)
03 January 2017
Thanks Kaviraja
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