Is the return on money back policies of LIC tax free

Is the return on money back policies of LIC tax free.Specific question relates to BIMA BACHAT policy issued by LIC

asked Aug 01 '13 at 13:24 by sk b 11


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).

answered Aug 03 '13 at 17:13 by Pankaj Batra 5.2k320

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Asked: Aug 01 '13 at 13:24

Seen: 1,497 times

Last updated: Aug 03 '13 at 17:13