LIC Receipt of 1000

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Student
160 Points Posted on 16 December 2021
rs 1000 received as LIC every month is it taxable?
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On 16 December 2021 at 15:34 Report
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Quick Summary
This discussion clarifies whether a monthly LIC receipt of 1000 is taxable. Generally, if it's considered a regular pension, it is taxable. However, you may be able to claim the standard deduction benefit, which could make it exempt. The taxability can also depend on the nature of the assessee and other factors.

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SEO Sai Gr. Hosp.
212572 Points Posted on 16 December 2021

Yes, if it is  regular pension. Take standard deduction benefit,,,, It will be exempt.

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On 16 December 2021 at 18:43
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Student
160 Points Posted on 16 December 2021
It is not taxable under ifos?
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On 16 December 2021 at 21:44
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Profession
28271 Points Posted on 17 December 2021
Nature of assesse and others are important.
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On 17 December 2021 at 08:14

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