LIC Maturity Amt. Taxable or Exempted
Chintan kataria (service) (29 Points)
28 March 2018LIC Maturity AMT RS.3 lacs Taxable or Exempted.
Chintan kataria (service) (29 Points)
28 March 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(173623 Points)
Replied 28 March 2018
Depends upon type of policy....... purchased date..... Premium paid vs. sum assured etc..
Vunu
(Developer)
(135 Points)
Replied 04 April 2018
Dhirajlal-ji, What about survival benefit amount?
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 04 April 2018
Exemption under section 10(10D) on Maturity amount received –When the premium paid on the policy does not exceed 10% of the sum assured – any amountreceived on maturity of a life insurance policy or amount received as bonus is fully exempt from Income Tax.
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