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tax traeatment of maturity amount of LIC

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(Querist)
09 July 2011 plz tell me what is the tax treatment of maturity amount received from insurance company engaged in life insurance business. is it taxable or exempted from tax and also quote relevant section.
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CA Navin Jain

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CA Navin Jain (Expert)
09 July 2011 its exempted from tax
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
09 July 2011 Section is 10(10D)of the Income tax Act,1961.
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