Taxability of lic maturity ?

RAHUL (Student CA Final ) (377 Points)

25 January 2016  

What will be the taxability of LIC Maturity if it is not exempted u/s 10 (10) d.

1. Is the whole amount taxable?

2. Or the maturity receipts less the premiums paid is taxable?

 

 

Any sources for your replies will be appreciated..