Dear Sir
LIC Maturity AMT RS.3 lacs Taxable or Exempted.
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LIC Maturity Amt. Taxable or Exempted
Replies (3)
Depends upon type of policy....... purchased date..... Premium paid vs. sum assured etc..
Dhirajlal-ji, What about survival benefit amount?
Exemption under section 10(10D) on Maturity amount received –When the premium paid on the policy does not exceed 10% of the sum assured – any amountreceived on maturity of a life insurance policy or amount received as bonus is fully exempt from Income Tax.
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