dear expert
pls suggest me
mere client ne 2010 Mai LIC li thi jiska single premium 50000rs deposit Kiya tha ab last year uski Maturity 139600 received hui hai to ye income taxable hai ya exempt hai
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LIC Maturity Income Taxable Ya Exempt
Replies (2)
Depends upon 'Assured Value' of the policy......... How much was that?
As a thumb rule, if any TDS deducted on maturity? If yes, it is taxable....
Not all policies are exempt under 10(10D).
please check in the maturity letter as well as ask insurance agent for this information.
Bcoz 50000 becoming 139600 in about 8 years indicate it's not regular policy.
please check in the maturity letter as well as ask insurance agent for this information.
Bcoz 50000 becoming 139600 in about 8 years indicate it's not regular policy.
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