For the Assessment year 2014-15, if a person getting his ICICI Prudencial Maturity amount, is it taxable or exempted from his /her income. If the amount is taxable whats the calulation of tax for that amount.
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Taxation
Replies (2)
As per my knowledge, the matured amount shall be exempt u/s 10(10D).
Refer section 10(10D) of the Income Tax Act, 1961.
Regards,
Devendra Kulkarni
Maturity amount is exempt from tax.
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