25 June 2022
Please give taxability of below situation.
there is a receipt of rs.5,87,252 from life insurance company which is received after the term of 5 years. premium paid till now is 5,05,000. My doubt is whether total 5,87,252 taxable or only 82,252 is taxable. Sum assured is 7,07,000. Premium is 1,01,000 PY.
CAclubindia
