Exemption under section 10 (10d) of income tax act 1961

Tax queries 309 views 1 replies

Whether Surrender of an Insurance Policy or Pension Policy (after payment of Premium for 3 years)is  eligible for Section 10 (10D) Benefit.? 

If the policy is under ULIP whether the entire surrender proceeds is eligible for exemption u/s 10 (10D) of Incometax benefit.

Replies (1)

1. Subject to premium paid per annum not exceeding 10% of assured value.

2. Yes, but only if said condition is satisfied.


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