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
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