Poonawalla fincorp
Poonawalla fincorp

Income is taxable or not

This query is : Resolved 
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(Querist)
25 February 2016 Intrest received on maturity of LIC policy is Taxable or Not
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Gokul Sharma

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Gokul Sharma (Expert)
25 February 2016 If policy is before 1.4.12 and premium is less than 20% of sum assured and if policy is after 1.4.12 and premium is less than 10% of sum assured than any amount received on surrender/matured of LIC is exemt from tax.
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Gokul Sharma

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Gokul Sharma (Expert)
25 February 2016 Except for key insurance policy.
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