Mukesh Kumar (26 Points)
11 August 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184521 Points)
Replied 11 August 2017
It would not be taxable, provided the premium which you paid every year were less or equal to 10% of the sum assured. (very generallized)
VIJEESH K P
(Tax Professional)
(37 Points)
Replied 11 August 2017
Such receipt does not qualify for standard deduction and is entirely taxable in the year of receipt.
CAclubindia
