About LIC

203 views 1 replies
User Avatar

154 Points Joined April 2017
I PURCHASED AN ONE TIME LIC ON 30.09.2009. THE MATURITY OF THE ABOVE POLICY IS IN 30.09.2019. NOW WILL IT BE TAXABLE FOR AY: 2020-21?
0 Reply Share Follow
On 19 July 2017 at 14:05 Report
Replies (1)
User Avatar

accountant
35 Points Joined July 2011
As per Section 10(23D) any amount received from LIC ON maturity wil fully exempted and not chargeable to tax. So no tax on amount received on maturity income.

Read more at: /forum/is-amount-received-on-maturity-of-lic-taxable--153490.asp
Reply
On 21 July 2017 at 14:06


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading