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Taxablity of LIC matured amount
matured amount of LICc is exempt or not ???????
Replies (2)
Sir,
What is the Policy issued date?
What is the Policy issued date?
Maturity and bonus amount for insurance is exempt under Sec 10 (10D). However, when the premium paid on the policy does not exceed 10% of the sum assured for policies issued after 1 April 2012 and 20% of sum assured for policies issued before 1 April 2012- it is taxable fully as per the person's tax slab.
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