My client is getting survival benefit from LIC of 2.5 lakhs & 2.5 lakhs each on 2 policies which has sum assurred of Rs. 50 lakhs each (total 1 crore).
and Premium paid is ₹525840 each (total ₹1051680)
considering the case does survival benefit will be taxable or exempt under sectio 10(10D)
kindly reply at earliest
Menu
Is Survival Benefit from LIC taxable?
Replies (1)
Not exempt u/s. 10(10D), if policies purchased after 2012.
Check whether any TDS has been deducted.
Recent Topics :
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
- Question on buy back of shares
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
- Revising salary on 24Q Q4 FY 25-26
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
Related Topics :
CAclubindia
