Need A Financial Product Forums Tax Savings In ITR ? 1, where should I show LIC maturity amount

This topic contains 1 reply, has 2 voices, and was last updated by  Sadanand Kadam 2 years, 7 months ago.

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  • #47219

    I had 2 LIC policies which have matured recently and I have received money back on them. Now, I am getting confused as to where to show them while preparing ITR ? 1. Please help me on this. Also tell me, whether the amount received from these policies is tax free or not.

    #47220

    You will have to show this amount as an exempted income. As the amount has been received as money back, it is tax free in your hands.

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