Taxability of lic maturity ?

The whole amount will be taxable.

Understand Section 10(10D) of Income Tax Act applicable on maturity of Life Insurance Policies.
As per the section maturity of LIC policy will be  included in the income of the Individual i.e. it is taxable if 
"the  policy where premium in any year is more than 20% of the sum insured if it were bought after 1st April 2003 but before 31st April 2012 or is more than 10% of the sum insured if it were bought after 1st April 2012.
However, Death benefits on maturity will continue to be exempt from tax"

Maturity amoun less premiun paid

lets see others view also

on what grounds the exemption u/s 10(10D) is not available?

viz for annuity or pension policies no benefit is available except 80CCC at the time of deposit, 

put specfic type for better result 

I endorse the views submitted by Mr. Sachin in trailing. 

Exemption is not available as the premium amount exceeds 20% of sum assured.

I don't think the entire amount should be taxable as it would amount to double taxation. The amount invested was probably taxed once when it was earned. 

if the premium you are paying is 10% or less of the sum assured/death benefit then you can enjoy the benefit of section 80c and 10(10d).

Case 1: Rajan has one Life insurance policy, bought in 2005, with annual premium of Rs 50,000/-. The policy has sum assured of Rs 3 lakh. The policy is due to mature next year in 2015. He wants to know if the maturity proceeds be taxable?

Answer: NO. As the policy was bought before April 2012, and has sum assured more than 5 times of premium amount, then it satisfies the condition of section 80C and 10(10d) and thus is not taxable.

good day sir

sub;lic

 ifs 125000 i sthe amount of sum assured  26-11-2009 lic

and we have got rs152125-20.10-.2015  which amount to be taken how what is exemted

and which section and how to  compute the same 

bit important kindly

reply