Maturity amount from polidy is to be taken under which head of income
1 Replies
Ankit Agarwalla
(CA)
(281 Points)
Replied 08 December 2010
Maturity amount from Life Insurance Policy is exempt u/a 10 10(A). If the maturity proceeds are from any other Insurance Policy(Say retirement plan etc) it will be taxable Under Head Income From Other Sources. There is no specific section for its taxability.
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