I am below taxable salaried. I have received LIC maturity amount 1,36 lakhs in the financial year 2017-18. Is it included taxable income or not?
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About lic maturity value is included taxable income or not?
Replies (5)
Whether any TDS deducted from LIC maturity value?
If, yes.......... generally taxable....... (to be verified)
No, TDS was not deducted
That means it is tax-exempt u/s. 10(10D), provided maturity amount above 1 lakh.
You may include it in exempt income, after verification of policy terms.
no tax it will be exempted under 10(10)b
No maturity amount will not be taxable if you continue this policy for at least two years.
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