Brojendra Nath Adhikari (3 Points)
12 April 2018I 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?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195199 Points)
Replied 12 April 2018
Whether any TDS deducted from LIC maturity value?
If, yes.......... generally taxable....... (to be verified)
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195199 Points)
Replied 12 April 2018
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.
Yamini Sanjay Garg
(39 Points)
Replied 12 April 2018
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
CAclubindia
