Taxability of maturity amount received from lic
Querist : Anonymous
My question is whether the amount received from LIC is taxable or not?
If taxable, then what amount taxable i.e. Rs.150,000/- or Rs. 50,000/- (150000-100000).
Hope it helps.
Querist : Anonymous
Please specify how much amount taxable.
Policy amount is Rs.1,00,000/- and Maturity amount Rs. 150,000/-
whether whole amount taxable (i.e. 150,000) or balance amount( i.e.50,000/-)
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