Is it life insurance maturity amount is tax free 10 (10d)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 December 2012
Hi Sir, My Uncle age is 46, he has taken a Life Insurance Policy. Payment Term is 5 Years and Benifit term is 24 Years for 25 Lakhs Sum Assured and 3,67,259-00 per annuam for 5 yers. As per Insurance company people he will get arround 60 Lakhs in the year 2026. And they said that all Maturity Amout is TAX FREE Under 10(10D) is it correct.. ? If not how much my uncle is going to pay tax ?
Dintakurthi Tirumala
(Expert)
27 December 2012
Yes, it is correct. As per the present provisions and exemption. But we cann't say what is in the year 2026 now.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Oct 2025 Invoices
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
