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IS AMOUNT RECEIPT FROM LIFE INSURANCE COMPANY UNDER SECTION 194 DA TAXABLE OR NOT?

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(Querist)
23 July 2023 IS AMOUNT RECEIPTS FROM LIFE INSURANCE COMPANY UNDER SECTION 194 DA TAXABLE OR NOT? (IF NOT TAXABLE,THEN CAN I REPORT THE AMOUNT AS EXEMPT CATEGORY UNDER SECTION 10D)?
(TDS 5 % HAS DEDUCTED ON THE ABOVE SAID RECEIVED AMOUNT FROM LIFE INSURANCE COMPANY LIC)
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
23 July 2023 Doesn't seem to be tax exempt.
Check policy document &/or premium to sum assured ratio.
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BISWAJIT MAIKAP

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BISWAJIT MAIKAP (Querist)
23 July 2023 Thank you very much sir
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
23 July 2023 My Pleasure.
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