Tag Archives: Section 10(10D)

Rationalisation of exempt income under life insurance policies

By | February 2, 2023
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Rationalisation of exempt income under life insurance policies BUDGET 2023-24 MEMORANDUM EXPLAINING THE PROVISIONS IN THE FINANCE BILL, 2023 Clause (10D) of section 10 of the Act provides for income-tax exemption on the sum received under a life insurance policy, including bonus on such policy. There is a condition that the premium payable for any… Read More »

Exemption on maturity of life insurance policy allowed even if taken from foreign insurer

By | September 13, 2016
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Held The ld AR has pointed out that the term ‘insurer’ has been used u/s 80C(xii). Therefore, the definition of Insurer, in our opinion, is not relevant in sec 10(10D) where no such condition has been specified; but the language of sec. 10(10D) is clear that any sum received under Life Insurance Policy. When there… Read More »