Please help me
If a person withdrawl or recieve the LIC policy amunt on srrender value before maturity date then whether he is eligible to take exemptoin in sec 10(10D) or it is taxable under income tax act 1961.
parvesh garg (Student CA / Articleship) (100 Points)
02 December 2015Please help me
If a person withdrawl or recieve the LIC policy amunt on srrender value before maturity date then whether he is eligible to take exemptoin in sec 10(10D) or it is taxable under income tax act 1961.
CA Goutam Sharma
(Chartered Accountant in Practice)
(468 Points)
Replied 02 December 2015
No Exemption, Fully Taxable