Key man insurance

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i wanted to have more info on tax implications on maturity of keyman insurance

when pol is assigned to keyman without consideration will the surrnder value will be taxed

once the pol is assigned to key man wwhat will be the tax implication on maturity

any relevant tax opinion availble

pl forward any judgement cop y availble

 

b s patil 9820084635

Replies (3)

if beneficiary is the employer than taxable under section 28(VI)..

any sum received under a Keyman insurance policy including the

sum allocated by way of bonus on such policy.

Explanation.—For the purposes of this clause, the expression “Keyman

insurance policy” shall have the meaning assigned to it in clause (10D)

of section 10;]

 

 

 

If benificiary is employee than taxable in hand of employee under section 17 

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