Is the return on money back policies of LIC tax free.Specific question relates to BIMA BACHAT policy issued by LIC
Is the return on money back policies of LIC tax free.Specific question relates to BIMA BACHAT policy issued by LIC
If the premium paid in any of the years during the term of the policy is more than 20% of the Actual Capital Sum Assured, then maturity amount would become taxable u/s 10(10D).