I wanted to know, Does the money received as Survival Benefit from any LIC Policy is Taxable?
If it is taxable then under which head?
With Survival Benefits I mean the % of the Sum Assured under Basic Plan which we receive after every 4th year. For more information please see https://www.licinsurance.com/new-bima-gold.htm
Tax payer is a regular salaried employee.
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