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
     
  2. Bipin Durgapal

    Bipin Durgapal New Member

    Not taxable
     
  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.
     
  4. Aruna Raut

    Aruna Raut New Member

    Thank you for your suggesstion .... Avdhut Raut
     
  5. Aruna Raut

    Aruna Raut New Member

    Thank you for your suggesstion .... Avdhut Raut
     
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