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
CAclubindia
