Hi,
I recently received money from my LIC money back policy.
Is this taxfree? If not, under which head it will be included as income?
Thanks!
Menu
Tax Treatment on Moneyback policy
Replies (2)
Dear Doctor,
Money received on money back from LIC is totally exempt u/s. 10 ( 100 d of I.T. Act 1961
enjoy the receipts
Yes, it is completely Exempt, as you are only getting your principle amount back, like a pre-mature Fd or withdrawal from PPF. You might have also received a Letter from the LIC for Tax purpose, stating that the same is exempt. Please do not forget to declare this amount in Returns as "Tax Free incomes"
Recent Topics :
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
Related Topics :
CAclubindia
