Taxability of keyman insurance policy
This query is : Resolved
kapil kabra
(Querist)
28 June 2016
Please suggest me whether Key man insurance policy taken in Year 1998 and Assigned in favor of Director in 2000 and proceed of policy amount received in April 2013 in hand of Director whether it is taxable of exempt under section 10(10D)
Rupesh Jain
(Expert)
28 June 2016
this is for the company liablity waive off, its not taxable in hand of company.
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