Taxabily of LIC policy done before 31st March 2003. Yearly Premium is more than 20% of sum assured.
This query is : Resolved
28 June 2023
LIC policy done before 31st March 2003. Yearly Premium is more than 20% of sum assured. Will the amount received on maturity be taxable ?
28 June 2023
No. Exempt u/s. 10(10D) IT act.
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