LIC Refund is taxable or not, if anybody know then please tell me its urgent
Menu
LIC Refund
Replies (3)
what is LIC refund?
You mean surrender value or maturity claim ?
1. LIC refunds money when you pay extra premium or reimburses certain expenditure like medical expenses.
2. On Money Back Policies: It is Exempt ( Provided annual premium is less than 20% of Sum assured)
3. On Death : Tax free
4. On Maturity of Policy : Tax Free ( Provided annual premium is less than 20% of Sum assured)
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
