https://www.taxtmi.com/notifications?id=140598 Rules compute taxable income on life insurance policy receipts as A - B for the first year of receipt and C - D for subsequent years, where A/C are sums received and B/D are aggregates of premiums paid up to receipt date that have not been claimed as deductions nor already accounted for in prior years. The provision excludes unit linked insurance policy receipts and amounts specified as income under clause (iv) of sub section (2) of section 56 from the definition of sums received. en-us Wed, 16 Aug 2023 00:00:00 +0530 Fri, 18 Aug 2023 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=140598 Rules compute taxable income on life insurance policy receipts as A - B for the first year of receipt and C - D for subsequent years, where A/C are sums received and B/D are aggregates of premiums paid up to receipt date that have not been claimed as deductions nor already accounted for in prior years. The provision excludes unit linked insurance policy receipts and amounts specified as income under clause (iv) of sub section (2) of section 56 from the definition of sums received. Notifications Income Tax Wed, 16 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/notifications?id=140598