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SBI life insurance flexible smart amount taxable

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online

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online (Querist)
20 July 2022 Sir,
It assessee SBI life insurance flexible smart covered rs:100000/- yearly *10 years sum assured amount rs:10 lacs .if assessess SBI life insurance amount received rs:11,50,000/- f.y.21-22.
Question:
Assessess SBI life insurance amount taxable or exempted in it act.
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
20 July 2022 If premium paid is Rs. 1 lakh per annum. Then the total receipt will be tax-free, as per sec. 10(10D) of IT act.

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