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Sum assured amount taxable or exempt

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Querist : Anonymous

Querist : Anonymous (Querist)

16 April 2014 Hi,

Is sum assured amount received on maturity of Life Insurance Policy , taxable or exempt

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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16 April 2014 It is exempted under section 10 of the Income tax act,1961

OM SAI SRI SAI JAI JAI SAI

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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02 October 2021 Tax free subject to premium paid be not more than 10% of sum assured (for policies purchased after 1st April, 2013)

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