Income Tax Exemption under Section 10(10D) of Income Tax Act, 1961

Eligible Assessee

An Individual

Nature of Income

Amount received under life insurance policy including any bonus allotted on such policy

Amount Exempt

Entire amount

Conditions laid down for Tax Exemption

The following amount shall not be allowed as exemption under this clause
-Amount received u/s 80DD(3) or 80DDA(3)
-Amount received under keyman insurance policy
-From 1.4.2003 amount received under the policy where premium in any year of term of policy exceeds twenty per cent of capital sum insured (not to apply in case amount is received on death of a person)
Capital sum insured shall be considered giving effect to explanation to section 80C(3) or 88(2A)

How to earn Tax free income? Incomes exempted from tax under Income Tax Act, 1961

Free download of Income Tax Return Filing Official Software

Time Limit for Filing Appeal with Commissioner of Income Tax (CIT) Appeals and Income Tax Appellate Tribunal (ITAT) - Fee for filing Income Tax Appeals

Advance Payment of Income Tax

Tax Deducted at Source (TDS) Rates from Financial Year 2013-14 (Assessment Year 2014-15)

Tax Deducted at Source (TDS) Rates

Income Tax Rates Financial Year 2012-13

Income Tax Rates Financial Year 2013-14

Important Due Dates

Audit requirement for business and profession under section 44 AB of Income Tax Act 1961

Income Tax Exemption under Section 10 of Income Tax Act, 1961

Deductions allowed from Gross Total Income under Chapter VI A of Income Tax Act, 1961

Tax saving schemes and deductions available against investment

How to calculate Value of Perquisites for accommodation provided by the employer to employee: Income Tax Rule 3 (1)

How to calculate Value of Perquisites by way of use of motor vehicle by an employee provided by the employer to employee: Income Tax Rule 3(2)(A)

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