Taxability of maturity proceeds of "new jivan dhara" policy

Tax queries 1333 views 1 replies

WEATHER MATURITY PROCEEDS OF "LIC - NEW JIVAN DHARA POLICY" IS TAXABLE ????

(THE PERSON HAS CHOOSE CASH OPTION AFTER TEN YEARS AND NOT OPTED FOR PENSION)

 

HOPE FOR QUICK RPLY...

Replies (1)

LIC maturity proceeds are simply does not consist part of income, it is exempted U/s 10(10D), including survival benefits and death claims.  

However commuted annuity under jeevan dhara, jeevan akhay (pension plans)and keyman insurence has its own set of exemption norms, please refer the polcy documents for actual exemption terms and quantam


 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register