Taxable or exempt
This query is : Resolved
Guest
Guest
(Querist)
28 June 2012
Sir,
Please show me the solution
One assessee has taken birla sun life insuarance policy. He partially withdrawl some amount from policy before matuarity.
my question is that "Is partial withdrawl of lic amount before matuarity is exempted or not ?" if there is any amount limit for exemption then please let me know
Thanks in advance.
Warm Regards,
Nishant Sipani
Please show me the solution
One assessee has taken birla sun life insuarance policy. He partially withdrawl some amount from policy before matuarity.
my question is that "Is partial withdrawl of lic amount before matuarity is exempted or not ?" if there is any amount limit for exemption then please let me know
Thanks in advance.
Warm Regards,
Nishant Sipani
Amol S Joglekar
(Expert)
28 June 2012
The amount received under "money back" kind of policy is not taxable.
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