LIC amount

1. LIC maturity amount will be taxable u/s 56 under the head Income From Other Sources (IOS). However, if the policy amount is received by the nominee of the Individual the treatment will be the same. 
2. The maturity amount received by the nominee will be taxable in the hands of his/her hands under IOS. 
Please correct me if the solution has an alternative view. 

Dear Sir,

Please correct Me if any wrong or incorrect information provided by me

If the query is relating to maturity amount received from LIC is exempt under section 10(10D) as follows:

Policy Issued Before 01/04/2003 :- Fully Exempt including Bonus.

Policy Issued Between 01/04/2003 and 31.03.2012 :- Fully Exempt including Bonus ( But Condition is that premium of policy cannot be exceed "20% of Sum Assured".

Policy issued on or after 01/04/2012 but Before 01/04/2013 :- Fully Exempt including Bonus (But Condition is that premium of Policy cannot be exceed "10% of Sum Assured".

Policy Issued on or after 01/04/2013 :-  Same as above.

Please find when the policy is issued and find the premium is within the limit of Sum Assured.

if this is within the limit then no sum is taxable

Except

1) In Case of amount received from an Insurance Policy taken for disabled person under Section 80DD

2) In Case of Amount received under a keyman insurance Policy