Hi
Any one pls Tell me the tax treatment for LIC receivced on Maturity. Is it Excempted or not??
Sreejesh V K (ICMA Final Student) (147 Points)
04 October 2010Hi
Any one pls Tell me the tax treatment for LIC receivced on Maturity. Is it Excempted or not??
Harpreet
(* * * * * *)
(1670 Points)
Replied 04 October 2010
The amount will be fully exempted but read the bond carefully which you received at the time of buying of LIC. In case of ULIP Plan and if there will arise any gain on ULIP Plan then they may calculate the STCG and LTCG too and deducted the TDS thereon.
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