lic policy
This query is : Resolved
08 October 2009
My question is that:
1. if any individual recived any amount by the way of maturity of LIC policy what should be the treatment?
a) is it taxable?
b) or it is going to be expempt income?
2. what should be the TDS rates for Nov. 09 exams. is it new one that applicable from 1st oct. or the old one??
Thanks
1. if any individual recived any amount by the way of maturity of LIC policy what should be the treatment?
a) is it taxable?
b) or it is going to be expempt income?
2. what should be the TDS rates for Nov. 09 exams. is it new one that applicable from 1st oct. or the old one??
Thanks
10 October 2009
amount received on maturity of LIC is exempt
10 October 2009
It is exempted u/s 10(10D) of IT Act,1961
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