sir... r u asking or informing??????
i thnk its exempt.... presently....
Sec 10 (10D) any sum received under a life insurance policy, including the sum allocated by way of bonus on such policy, other than
(a) any sum received under sec 80 DD or 80 DDA
(b) any sum received under a Keyman insurance policy; or
(c) any sum received under an insurance policy issued on or after the 1st day of April, 2003 in respect of which the premium payable for any of the years during the term of the policy exceeds twenty per cent of the actual capital sum assured:
i guess in this case taking into account the condition stated in red letters full amount is exempt
| Originally posted by :Hareesh H Sharma | ||
| " | i guess in this case taking into account the condition stated in red letters full amount is exempt | " |
Section 10(10D) exempts a "life" insurance policy(as posted above) - does it include other schemes like Pension Scheme of LIC (this was tested in the PCC exams in Nov.)??
Now my post does't answer the question but i guess it atleast helps in answering the question better. Lookin forward to an answer??
CAclubindia
