Loan amount taken against LIC policies is taxable or not?

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  1. Aruna Raut

    Aruna Raut New Member

    I want to file income tax return and have query regarding Loan amount taken against LIC policies for personal expenses is taxable or not? if taxable then under which section . Please sugeest.... Avdhut Raut
     
    Aruna Raut, Mar 23, 2015
    #1
  2. Bipin Durgapal

    Bipin Durgapal New Member

    Not taxable
     
    Bipin Durgapal, Mar 23, 2015
    #2
  3. gaurav_kumar

    gaurav_kumar Well-Known Member

    You have taken a loan which you have to repay.

    This is not your income and therefore no tax is liable to be paid in this case.
     
    gaurav_kumar, Mar 23, 2015
    #3
  4. Aruna Raut

    Aruna Raut New Member

    Thank you for your suggesstion .... Avdhut Raut
     
    Aruna Raut, Mar 24, 2015
    #4
  5. Aruna Raut

    Aruna Raut New Member

    Thank you for your suggesstion .... Avdhut Raut
     
    Aruna Raut, Mar 24, 2015
    #5
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