following details of LIC maturity
policy commencement date 01/01/2013
Premium lump sum payment Rs 4 lakhs
Policy amount Rs 405000/-
Maturity Amount Rs 5.50 lakhs received in Fy 17-18
what is income tax. treatment in Fy 17-18
Amount received at the time of maturity is exmpted u/s 10(10)D subject to certain conditions.
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