Death claim benefit received by nominee for life insurance
This query is : Resolved
25 July 2018
What will be the disclosure in ITR for amount received by nominee on the death of insured person in case of life insurance?
Is it exempt income and required to be disclosed/shown U/s10(10D)?
or
Is it treated as inheritance and does not require any disclosure in Income tax return of nominee?
Is it exempt income and required to be disclosed/shown U/s10(10D)?
or
Is it treated as inheritance and does not require any disclosure in Income tax return of nominee?
CA R SEETHARAMAN
(Expert)
25 July 2018
It's exempt income and required to be disclosed/shown U/s10(10D).
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