Maturity Amount received from Keyman Insurance Policy is taxed under the head Income from Other Sources: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench held that the assessee is not eligible to claim an exemption under section 10(10D) of the Act on the maturity value of the Keyman Insurance Policy and is taxable under income from other sources. The assessee, Ravjibhai L. Kakadia was a partner in M/s. Sheetal Mfg. Co., […]

from Taxscan | Simplifying Tax Laws https://ift.tt/35helkY