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treatment of maturity fi IP

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(Querist)
24 June 2010 hi
what will be treatment of life insurance policy at the time of maturity. when we will get lump-sump amount is it taxable or not....
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
24 June 2010 Pl check section 10(10D) of the Income tax Act,1961 and see whether your case fits into that . If so, the referred amount is tax free.
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Huzefa Tinwala

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Huzefa Tinwala (Querist)
26 June 2010 thank you sir.........
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