Tax on Income after Life Insurance maturity || Section 10 ( 10D) || Explains CA - Suman Poddar ||
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- เผยแพร่เมื่อ 16 ต.ค. 2024
- Welcome to our latest video where CA Suman Poddar provides an in-depth explanation of the tax implications on income received after the maturity of life insurance policies under Section 10 (10D) of the Income Tax Act.
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@reoient you said that maturity is tax exempt if premium paid is < 10% of Sum Insured, so here Sum Insured means Base Sum Insured or Death Sum Insured, because some policies mention these 2 Sum Insured amount in their policies and usually Death Sum Insured is kept at 11 times the yearly premium
If you receive the maturity money within your policy terms then the amount received by you is taxable subject to conditions as mentioned in video but in case your nominee receives death sum insured then it is exempt from tax.
Why the hell you guys will add music sounds in your videos it doesn't give good vibes to watch
Music sound is more than your voice 🤬
Ok noted