Is amount received on maturity of LIC Taxable?

Sir I have surrendered my LIC's Money Plus policy plan no. 180 after completed 5th year in march 2012, i have deposited Rs. 10000  yearly for 5 years i.e. Rs.50000 and I have received Rs.51000 on prematured. So I want to know that is Money Plus policy prematured amount is exempt from Income Tax and is covered u/s 10(10d) and should i show this amount in income tax return in A.y. 2012-13 for Rs.51000 or only Rs.1000. so please reply me as early as possible so i can submit my  Income Tax Return.

Thanks and Regard

Nitesh Kumar

Mr. Kamal Kishore Sen,

U/s 10(10)(d), the maturity amount is taxable only if the premium paid exceeds 10% (From FY 2012-13, before it is 20%) of the sum assured. It is what i hope so. If not, then the whole amount is exempted. 

If maturity amount is received from SBI life Insurance i.e 3,40,433/-.where it is invested in march 2012 with 2,07,000/- as a single premium amount.whether it is taxable in the hands Assesse at the time of maturity?.please do the needful