Life insurance taxability
This query is : Resolved
28 March 2019
life insurance premium is above 10% of Sun assured. On this the maturity value is fully taxable.
Whether the bonus received in between policy period is fully taxable?
whether the maturity proceed is fully taxable or only the net amount excluding premium paid is only taxable?
whether maturity value less premium claimed as deduction = net value is taxable?
If any have information regarding it or faced in practical experience kindly provide the method ?
Whether the bonus received in between policy period is fully taxable?
whether the maturity proceed is fully taxable or only the net amount excluding premium paid is only taxable?
whether maturity value less premium claimed as deduction = net value is taxable?
If any have information regarding it or faced in practical experience kindly provide the method ?
28 March 2019
Maturity proceeds is fully taxable.
Maturity proceeds is fully taxable.
28 March 2019
life insurance premium is above 10% of Sun assured. On this the maturity value is fully taxable. Whether the bonus received in between policy period is fully taxable?
Since the premium paid is more than 10% of sum assured, maturity value and bonus received will be taxable without any exceptions
Since the premium paid is more than 10% of sum assured, maturity value and bonus received will be taxable without any exceptions
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
