For 10(10d)
This query is : Resolved
26 March 2012
Dear Sir,
i want to know that if there is LIC maturity amount received after certain period of time then what to do with that LIC maturity amount U/s 10(10D) it is exempt but how we can claim under 80(C). please tell me how that figure shown in the return?
i want to know that if there is LIC maturity amount received after certain period of time then what to do with that LIC maturity amount U/s 10(10D) it is exempt but how we can claim under 80(C). please tell me how that figure shown in the return?
CA CS Amit S. Kedia
(Expert)
26 March 2012
There is nothing to do u/s 80C with LIC maturity amount. LIC premium paid is deductible u/s 80C from GTI and amount received on maturiy is exempt u/s 10(10D).
Mihir Doshi
(Expert)
26 March 2012
Agree with expert.
Section 10 speaks about exempted income.
Thanks
Mihir Doshi
Section 10 speaks about exempted income.
Thanks
Mihir Doshi
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