Section 10(10D)| Tax Treatment of Receipt from Life Insurance Policy | CA Ranjeet Kunwar Sir |
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- เผยแพร่เมื่อ 7 ม.ค. 2025
- It is a lecture providing discussion about section 10(10D), as amended by Finance Act, 2021.Useful for all students of CA, CMA, CS, B.com...
Very nice, your presentation skills are awesome. Keep it up. Very informative. - Thanks
While defining the capital sum assured for the purpose of exemption of the policy under section 10 ( 10D) of the Income tax Act, 1961; it has been mentioned that capital sum assured will not include rider benefit sum assured like term rider, critical illness rider sum assured, etc. It is being clarified that if policy is accepted with any rider and under such rider if any death benefit is payable, then sum assured of such rider benefit should be clubbed with basic sum assured for deciding capital sum assured. For example- policy accepted with term rider sum assured will have death benefit under rider.
Sir, thanks for this informative presentation. I had a question around surrender. I surrendered my policy purchased in 2017 after paying two premiums (premium < 2.5L p.a) and received the proceeds after completion of 5-year lock-in period in Nov 2022. The proceeds comprised the sum of my two premiums plus interest from discontinued fund during lock-in (money was moved to discontinued fund when I surrendered the policy as per policy T&C). Are the total proceeds received in 2022 exempt under section 10 (10D)?
Sir please upload other amendment video for relevant of upcoming June -2022 exam. We are waiting.
Sir please upload more amendment video of retirement benefits of PF amendment
Sir lic se received bonus taxable hai ya nahi hai
Maturity value taxable means sum assured+bonus or only bonus.
What's the tax liability on survival benefit receiving from life insurance policy?
SIR PLEASE MAKE VIDEO ON NR TAXATION TOPIC
Thank you sir,jo dhudh rhe the vhi mila
I had invested in 2 policies Kotak Invest Maxima Policy (ULIP) on 15.05.2012 and 22.05.2012. Single premium of one lac each was paid ( total premium paid was 2 lacs) . Sum Assured is 1.25 lacs per each policy( Total Rs.2.50 lacs). I received total maturity of Rs.305913 ( for both the policies). TDS of 15295.68 was deducted. Am I eligible for Capital gains as the policies are ULIP and invested in mutual funds? If yes, how to get Capital Gains statement? or entire amount is taxable? And how to show in ITR-3 under both the scenarios?
Sir please upload amendment
What's the taxability if policy is surrendered before maturity?
It's depend upon type of policy...I will try to make a separate video on it
@@CA.RanjeetKunwar can you please give a brief here?
@@Ree_7997 taxability of receipt from LIP which is surrendered before maturity is depending upon type of policy. kindly mention the name of policy for which you want to know.... Thanks
Very useful Sir. Thank you
Agar m aaj k date me 1lakh rs premium, one time premium wala 15 insurance leta hu
Every insurance meko 5 saal k baad har saal 10 thousands ka payment karta h, to 5 saal baad meko har saal 15 insurance k total 1.5 lakh payment milte rahega
To wo 1.5 lakh pe meko tax lagega kya
And main aise kitne insurance le sakta hu
Joradar samjhae sir
I pay pli premium 30780 per year, sum assured 300000, policy start from janu 2014, maturity janu 2024.whether maturity value is taxable or not,
Hello sur
Mene sbi life smart wealth assure plan 2019 m liya tha, single perimium 20 lakh, 10 year sum assure 22 lack 50 thousan, maturity taxable h ya nhi
Nhi
If I pay premium of rs 20000 per year and my sum assured is rs 180000 and my maturity amount 250000. What is the taxable amount at the time of matury
2,50,000 - total premium paid
Your videos are awesome.
Sum assured ki 10% means basic Sum assured ki or maturity Sum assured ki ???
Basic
Sir, my policy start date is July 2022. The Sum Assured is ₹1226000 and I pay ₹120000 as annual premium for a financial year, so in that case will the maturity amount be taxable? As per your explanation it should not be taxed. Kindly suggest. 🙏
If ur basic sum assured is 1226000....
Maturity amount is exempt
Pura income tax read krwa do sir please I m in govt. Job in haryana and I m preparing for section officer exam in finance department haryana pls pls sir
Paid class 😞
Great
Very nicely explained
U r perfect, but sometime bush here and there. Must to the point fast... Just suggestion
Sir kindly advice for the tax effect of employer -employee lic policy.
Does 10% premium calculation of total sum assured of the premium includes GST or excludes GST?
I will give an example of my case:
I bought a policy on 15th March, 2023, whose basic sum assured is 20,00,000 (premium = 2,00,000) and there is an accidental rider assured amount of 20,00,000 (premium= 2,020)
In total I pay a premium of 2,011,110 (20,00,000 + 4.5% GST + 2,020 + 4.5% GST) in 1st year.
Next year onwards the modal premium will be 2,06,565 ( including GST).
Also I will be receiving survival benefits every year till 35 years i.e. around 70k.
The maturity amount will be paid in the 35th year.
Will the maturity and survival amount be taxable?
Excludes GST
❤
Bro 1 cheez ko 5 baar repeat mat Kiya Karo.... 5 min ki info 15 min mey mat do