Dear Sir,
My Auncle has received death claim from insurance company, it is around above 10 lakh.... Is it taxable... he need to show that amount in ITR Filing
Please give some solutions
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Life insurance death claim received is taxable income
Replies (5)
Though it is not taxable....... It can be declared under Exempted Income in ITR
Is it neccesery to show in the ITR
Not mandatory, but always advisable......
(Why ITR has schedule EI?)
Thank u sir, for valuvable replye...
Most Welcome.
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