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lic maturity proceeds

Prakash Mehta (227 Points)

19 December 2017

is LIC maturity policy Proceeds amount will be taxable or not ??

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surbhi (student) (343 Points)
Replied 19 December 2017

Sec10(10D) Exemption on maturity proceeds of life insurance premium:-
If the premium paid on that policy doesn't exceed of 10 per cent of the sum assured(mininmum amount at the completion of policy)amount of life insurance, then only whole proceeds from matured amount is exempt.
so analyse your data with aforesaid provision

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RAJA P M ("Do the Right Thing...!!!") (128075 Points)
Replied 19 December 2017

Yes... I agreed to Mr Surbhi...
Also check some of the LIC policies are Taxable...

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