We are happy to inform you that the Survival Benefit amount of ₹45,070 / for your above mentioned policy has been paid through NEFT / IMPS
Sir is this pay out is taxable as other income receipt under Sec 56 or an exemption being Capital receipt on Life insurance policy
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Money back policy Survival benefit credit
Replies (5)
It is exempt u/s. 10(10D), provided the policy satisfied the conditions as per the subsection.
Thanks for the clarification. It was needed much for filing Return without a single doubt..
To confirm, whether any TDS was deducted?
No TDS on money credited
Correct. It is exempt.
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