Surrender amount received from lic taxable or not
This query is : Resolved
29 August 2019
Dear Sir,
I Received amounting to 81000/- surrender value from LIC after paying premium for 7 years..
Please let me know that amount receeived from LIC is taxable or not...
I Received amounting to 81000/- surrender value from LIC after paying premium for 7 years..
Please let me know that amount receeived from LIC is taxable or not...
29 August 2019
since it is more than 5 years, the surrender value is NOT taxable section 10(10D)
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