14 June 2023
Dear Experts , Kindly clearify whether LIC Maturity (surrendered before 2 Months) Policy issued during 2011- Amount received During 2023 1.Yrl Premium 18376 Amount received on 9/2/23 Rs.294603 2.Yrl Premium 18376 Amount received on 14/3/23 Rs.294603 (2 policies)
15 June 2023
Though the insured value of the policies are not specified, but in general, all such one or two premium policies are taxable, as sec. 10(10D) benefits are not applicable to them.
CAclubindia
