I have purchased a LIC Bima Bachat Policy in the year 2013 with maturity date of 2022 and paid single premium on it.
Now, in the year 2016, i have surrendered the policy.
I want to know about its taxation.
It will be taxable or not?
Or if it is exempt from taxation, then in which section it is exempt?
section 10 is itself for exemptions but under which clause it will be exempted?
section 10 is itself for exemptions but under which clause it will be exempted?
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