25 November 2022
The company provide insurance coverage for an employee. It covers following - Death benefit - Permanent disability - Critical Illness
This insurance is in addition to health insurance where the insurance amount paid is as per actual spend
As per my understanding Death benefit received by nominee is tax free under section 10(10d). But I am not very clear how is treatment for lump sum insurance amount received for Permanent disability or critical illness such as cancer.
CAclubindia
