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insurance policy

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(Querist)
05 June 2016 life insurance policy matured. is it a capital gain or income from other sources
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
06 June 2016 When the premium paid on the policy does not exceed 10% of the sum assured – any amount received on maturity of a life insurance policy or amount received as bonus is fully exempt from Income Tax under section 10(10D).

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