Taxable income from maturity proceeds from lic

Pankaj (MBA) (31 Points)

03 September 2015  

Dear all members,

I have received Rs. 1,02,000 from LIC on which TDS deducted by LIC is 2040. which shows that the income from policy is taxable. Now I want to know the taxable income from the policy. My question is that the whole maturity amount is taxable or (maturiy amount-premium paid ) is taxable?

Please clarify.

Regards,

Pankaj