LIC Money Plus - is it L.T capital gain tax Chandresh, 09 Aug 2013

Sir i have invested Rs.10000 in LIC money plus during 2007 and sold all units of LIC money plus for Rs.35000 in 2012. surplus recd Rs.25000 - is it L.T. capital gains ?

Fintotal Answer

Under section 10(10D) of Income Tax, any income received from an insurance policy is exempt. So you do not have ay capital gains. Refer http://www.tax.fintotal.com/Sections/10-10D-Tax-Rebate/3976/68 for detailed note.

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