Understanding Tax Provisions on Life Insurance Policy Receipts u/s 10(10D)
Life insurance policies are not just a means of financial security but also offer tax benefits under specific conditions. The Income Tax Act, 1961, under Section 10(10D), provides exemptions on sums received from life insurance policies, including bonuses, subject to fulfilling certain criteria. Let's delve into the key aspects surrounding this provision.
Date: 2025-02-03 / Source: CAclubindia
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