https://www.taxtmi.com/manuals?id=2598 Any sum received under a life insurance policy, including bonus, is chargeable under section 56(2)(xiii) to the extent it is not exempt under section 10(10D) and exceeds the aggregate premium paid during the policy term, excluding premium already claimed as deduction elsewhere. The prescribed computation under Rule 11UACA applies to first and subsequent receipts, while unit linked insurance policies and amounts covered by section 56(2)(iv) are excluded. The exemption framework for non-ULIP policies issued on or after 1 April 2023 is limited by the premium threshold, with death proceeds, GST-excluded premium computation, and term life insurance treated separately. en-us Fri, 07 Apr 2023 17:32:00 +0530 Fri, 01 May 2026 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=2598 Any sum received under a life insurance policy, including bonus, is chargeable under section 56(2)(xiii) to the extent it is not exempt under section 10(10D) and exceeds the aggregate premium paid during the policy term, excluding premium already claimed as deduction elsewhere. The prescribed computation under Rule 11UACA applies to first and subsequent receipts, while unit linked insurance policies and amounts covered by section 56(2)(iv) are excluded. The exemption framework for non-ULIP policies issued on or after 1 April 2023 is limited by the premium threshold, with death proceeds, GST-excluded premium computation, and term life insurance treated separately. Manuals Income Tax Fri, 07 Apr 2023 17:32:00 +0530 https://www.taxtmi.com/manuals?id=2598