Regarding process of filing
This query is : Resolved
01 April 2012
hi
Dear Sir,
i want to know about how i can show the LIC maturity amount in ITR and under which head ? is it necessary for me to pay tax on LIC maturity amount? or how i can save tax on this? i have already claimed Premium under 80C. So this year how i can save this amount?
thanks for urgent reply.
Dear Sir,
i want to know about how i can show the LIC maturity amount in ITR and under which head ? is it necessary for me to pay tax on LIC maturity amount? or how i can save tax on this? i have already claimed Premium under 80C. So this year how i can save this amount?
thanks for urgent reply.
02 April 2012
Amount received on maturity of LIC policy is exempt u/s 10(10D). Accordingly you can show the amount under exempt income.
10 April 2012
The experts have given you correct and to the point reply. Kindly do it as I also agree with them on this issues.
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