Lic maturity
This query is : Resolved
17 September 2016
One time premium 15 lacs invested in Lic policy in 2011, sum assured 20 lacs , is intermediate money back of rs 3 lacs receipt in asst 2016.17 taxable?
18 September 2016
I think it is taxable as premium amount crosses 20% of the maturity amount as in the year 2011.
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