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Sum assured amount taxable or exempt

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 April 2014 Hi,

Is sum assured amount received on maturity of Life Insurance Policy , taxable or exempt
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
16 April 2014 It is exempted under section 10 of the Income tax act,1961

OM SAI SRI SAI JAI JAI SAI
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
02 October 2021 Tax free subject to premium paid be not more than 10% of sum assured (for policies purchased after 1st April, 2013)
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