LICI maturity Amount
This query is : Resolved
04 August 2009
One my client has got maturity amount (Rs. 2 lacs +) of LICI Policy after completing 20 Years. I got confused whether this amount is taxable or not ?
Kindly suggest.
Kindly suggest.
05 August 2009
Exempted Income. neednot worry.
05 August 2009
Pl check with section 10(10D) of the Income tax Act,1961.Through this section maturity proceeds of certain LIC policies are tax free.
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