Hi,
I have surrendered a LIC policy that I bought in 2002. As a result, I have received some surrender amount from LIC this FY. Is this taxable in this FY?
Regards,
Praveen
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Does lic surrender proceeds attract it?
Replies (1)
Proceeds received from an insurance compay relating to Life Insurance is fully exempt u/s 10(10D) of the I-T Act.
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