Lic tax benefit

Others 610 views 1 replies
I am sathishkumar from chennai
i have a insurance policy 178 Jeevan tarang for sum assured rs 50,00000/- (50Lakhs) maturity after 20 years my question is will my maturity amount (vested bonus) and yearly payment as survival benefit will it be taxed ? please clarify 
Replies (1)

Yr Yearly premium Payment is tax deductable U/s 80c of income tax act upto 1.5 Lakhs

maturity value is tax free.

no need to pay tax on 50L


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