27 August 2015
My father had invested Rs. 1 lac in Single premium ULIP of LIC in Feb 2005 with the insurance coverage of 1 lac.
Now on maturity the LIC had deducted 2% tds in Feb 2015.
How do I calculate the tax out go on this or is this tax free? please Give calculation ....the maturity amount is 3.25 lac. father is a senior citizen now.
thanks
CAclubindia
