Poonawalla fincorp
Poonawalla fincorp

Lic maturity

This query is : Resolved 
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(Querist)
08 December 2015 when we paid LIC Premium Rs.1Lakh after maturity if we get 1.30 Lakh. how to call differece amount 30k??
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
09 December 2015 Amount received will not be taxable. It is exempted. Amount will be transferred to your capital account if you are maintaining accounts.

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