Loan taken from lici for personal use

CS Kaushik Kundu (Company Secretary) (180 Points)

25 March 2013  

Suppose, One individual has taken loan from LICI for his marriage purpose. After his marriage, some unused amount was lying his account which he has repaid to LICI during the financial year 2012-13. My question is, what will be the tax treatment under the Income Tax Act, 1961?

 

Thanks inadvance