Sir, My LIC Policy Matured in March 2015 after 20 years, i want to know that the maturity amount is taxable or not? pls also suggest how to show it in my income tax return.
2 Replies
Bharat
(student)
(50 Points)
Replied 01 July 2015
Dear friend it's not taxable. It's an exempt. You can show in exempt income heading in ITR
sadashiv Rupchand Gaikwad
(Proprietor)
(521 Points)
Replied 23 July 2015
Plese to check your LIC Policy Plan,
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