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Bonus on Insurance Policy

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(Querist)
21 July 2008 Whether periodically cash bonus received on insurance policy is taxable ? If yes, under which head ?
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
21 July 2008 No, it is not taxable
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CA PRAMOD SARAOGI

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CA PRAMOD SARAOGI (Expert)
21 July 2008 Section 10(10D) specifically provides that any sum received on Life Insurance Policy ( including Bonus) is not chargeable to tax.




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