I bought LIC Wealthplus policy on 30th March , 2010 with single premium of 50000. It matured last year with maturity amount 67841. I understood that I am not eligible for 10 10D exemption as it exceeds 20% of the sum assured. My question is should I have to pay tax on the entire 67841 or on (67841-50000)=17841.
You advise is highly appreciated.
Prish Consultancy LLP
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Saini Pati Shah & Co LLP, Chartered Accountants
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