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Lic Income taxable or not
If a person's LIC (120000)mature in the financial year 2018-2019,is it his income?His gross income is 410000 excluding LIC.WHICH is his income 410000 / 410000+120000?
Replies (1)
LIC income is totally exempt from tax under 10,(10)(d). so only 410000 is taxable
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