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insurance payout

How Do I Claim Exemption Under 10 10D?

January 24, 2024 by Emily Lee

How Do I Claim Exemption Under 10 10D? As per Section 10(10D) of the Income Tax Act, 1961 the amount of sum assured plus any bonus (i.e. the policy proceeds) paid on maturity or surrender of policy or on death of the insured are completely tax free for the receiver subject to certain conditions. What

Categories Arts and Entertainment Tags insurance payout, insurance payouts, life insurance, tax exemption, taxable income

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