banner_ad

Matured amount of Life Insurance Policy

Others 359 views 3 replies
Is the amount matured amount received from life insurance policy taxable???
Replies (3)
If the receipt is ROR is taxable
If policy is under 10(10D) then wholly exempt.
From 1-9-2019 TDS is 5%. on net amount that is maturity value minus premium paid.

1. LIC maturity if covered u/s 10(10D), then the entire amount is exempt. See provision sec 10(10D) for further conditions in relation to the policy. 
2. LIC maturity if not covered u/s 10(10D) will be taxable in the hands of the recipient under income from other sources and premium paid will be available as deductions. 
3. 01.09.2019 TDS @ 5% will be deducted on the net maturity proceeds. 
Please correct me if the above solution has an alternative view. 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details