Tax on LIC maturity

My dear friend, LIC maturity proceeds of all types is exempt u/s. 10(10D). It will be taxed, if  the premium amount exceeds 20% of the sum assured.

By "premium" do you mean the vested bonus? All I get at maturity is sum assured+bonus...

I have a Jeevan Kishore policy which matured just now; the sum assured was 25000 and the vested bonus is around 26000. Is either of these taxed? If yes, at what %?

As per Section 10(10D) proceeds from Life Insurance Policy means,  Any sum received under a life Insurance policy including the "sum allocated by way of bonus on such policy". This exemption doesnot apply to any amount received -

                               (a) under the scheme referred to in Sec.80DD or Sec.80DDA;

                                                                           or

                               (b) under a keyman insurance policy including bonus thereon;

                                                                           or

                               (c) under an insurance policy issued in respect of which the premium payable for any of the years exceeds 20% of the actual capital sum assured.

However, if the amount is received on the death of a person, exemption shall be available for the entire amount without any restriction.

Thanks Sriram...

I want to know what is the tax we have to pay in different policies of lic.

I want to know, what is the tax  we have to pay on maturity in different policies of lic.

 Dear Prabhat sir,

Please refer 2 Srirams answer here..in those case only tax on LIC proceeds need to be paid..or els its exemt US 10(10D)