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 ?
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
- Regarding Appointment of auditor in case of casual vacancy
- GST- DRC 03 RCM Liability
- Conversion of Proprietorship Firm to Partnership Firm
- Validity of form 15 G and 15 H on Interest on fixed deposit
- Query on managerial remuneration u/s 197 of CA 2013
- Supply to unit situated in SEZ
- Threshold limit of under GST for insurance agent
- GSTR 1- Amend Credit Note
- Updated return filing
- International transfer pricing- -> father entity vs son entity ->WHERE NO mutual say in management
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
- Filing GST Returns after death of proprietor
- Registered Required in GST Act
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
