Maturity amount from polidy is to be taken under which head of income
Ankit Agarwalla
(CA)
(281 Points)
Replied 08 December 2010
Maturity amount from Life Insurance Policy is exempt u/a 10 10(A). If the maturity proceeds are from any other Insurance Policy(Say retirement plan etc) it will be taxable Under Head Income From Other Sources. There is no specific section for its taxability.
CAclubindia
