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Life insurance

This query is : Resolved 

27 February 2013 MR x is an individual,he receives Rs.500000 from the insurance policy on the death of his wife .please let me know the tax implication of the amount received.I have gone through sec 10(10d).It does not specify any exemption of amount received on behalf of others in this case wife

28 February 2013 Proceed received by nominee on death of the insured person is tax free.

16 August 2023 Agreed, u/s. 10(10D) of the act..




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