Whether exemption under section 10(10D) is only available in case of receipts from LIC?
Exemption under sec 10(10d)
HEMANTH RANKA (Tax & Financial Consultants) (360 Points)
21 September 2016
HEMANTH RANKA (Tax & Financial Consultants) (360 Points)
21 September 2016Whether exemption under section 10(10D) is only available in case of receipts from LIC?
Deepak Gupta
(CA Student)
(15922 Points)
Replied 21 September 2016
It’s not just LIC. Life insurance policy of any company registered with the IRDA is also eligible for exemption, provided it fulfills the prescribed conditions u/s 10(10D).
Lokesh Kumar Dewangan
(Self Employed)
(31 Points)
Replied 21 September 2016
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