Is insurance maturity chargeable to income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 December 2011
Hi
Is Insurance amount receivable on maturity added to Income & chargeable to income Tax
Hi
Is Insurance amount receivable on maturity added to Income & chargeable to income Tax
07 December 2011
As per Section 10(10D) of the Income Tax Act, any sum received under a life insurance policy, including the sum allocated by way of bonus on such policy, shall not be included in total income.
07 December 2011
Fully Agree with Mr.Siddhartha,as per Income tax act,Under section 10 10 D,any sum received by Insurance company at maturity is not chargeable to tax its totally exempted
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
