Taxation on LIC amount
This query is : Resolved
28 February 2022
Dear Sir/Madam,
I have purchased LIC Policy of Rs. lack. now maturity amount 2 lacs in which bonus of rs 25 k included. tds also deducted. Pls. explain me how much amount is taxable ?
I have purchased LIC Policy of Rs. lack. now maturity amount 2 lacs in which bonus of rs 25 k included. tds also deducted. Pls. explain me how much amount is taxable ?
01 March 2022
Seems the policy is not eligible u/s. 80D(D) of the act. As per amendment in act, only the income part is liable for tax, which in your case would be 1 lakh.
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