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of <h1>Finance Bill 2025: Removing Premium Limits for IFSC Life Insurance Tax Exemptions Under Section 10(10D) from April 2025.</h1> Clause (10D) of section 10 in the Finance Bill 2025 provides tax exemptions for sums received under life insurance policies, including bonuses, with certain conditions. These provisions apply to policies issued by IFSC Insurance Offices. Currently, exemptions are limited if premiums exceed Rs. 2.5 lakhs for unit-linked policies and Rs. 5 lakhs for other policies. The proposed amendment aims to remove these premium limits for policies issued by IFSC insurance intermediaries, ensuring parity for non-residents compared to other jurisdictions. The changes are set to take effect from April 1, 2025.
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