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Regarding LIC

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(Querist)
27 June 2009 my question is that a person who is a partner in firm. His LIC is matured during the FY-2008-09. it is exempt income u/s 10(10D). please tell me where should he show his income either in Capital A/c or other separate head?
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Ratan Sharma

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Ratan Sharma (Expert)
29 June 2009 Hi,
It is better to be shown in his capital account.

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