Menu
LIC maturity proceeds
If I have a LIC policy of Rs.300000, I have paid the premium of Rs.100000 p.a.. The maturity proceeds i received after 3 years is Rs.180000/-only... so what will be the consequences for loss of Rs.120000 if I have to file returns for A.Y 2018-19?????
Replies (3)
nothing. ignore them because lic proceeds are exempt. hence the loss must be ignored.
| Originally posted by : Hemalatha G K | ||
 |
If I have a LIC policy of Rs.300000, I have paid the premium of Rs.100000 p.a.. The maturity proceeds i received after 3 years is Rs.180000/-only... so what will be the consequences for loss of Rs.120000 if I have to file returns for A.Y 2018-19????? |  |
you can not right off such kind of loos in Income Tax.
what will be the situation if it is a policy subject to market risk???
Recent Topics :
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Generate E-Way Bill for 4 Nos. Suppliers Involveme
- Section 54F Exemption
Related Topics :
CAclubindia
