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Life Insurance and Taxes: Which Policies Give the Best Section 80C Deduction?

A comprehensive guide to the taxability of LIPs and ULIPs, covering Section 10(10D) exemptions, Finance Act 2021 & 2023 amendments, capital gains taxation, TDS provisions, and ITR reporting requirements for AY 2026-27.

Got Money from a Life Insurance Policy or ULIP? Here's How It Is Taxed and Reported in Your ITR

Judgement

The Income Tax Appellate Tribunal (ITAT) Mumbai, has held that Aditya Birla Sun Life Insurance Company was not liable to deduct tax at source on reinsurance premium paid to foreign reinsurers.

Rs. 6.88 Crore TDS Demand on Aditya Birla Sun Life Insurance Quashed; ITAT Says No Tax Deduction Required on Overseas Reinsurance Premium

News

ICICI Lombard General Insurance Company Limited wins long-running tax case as CESTAT dismisses service tax and Cenvat credit demands for FY 2008-15.

CESTAT Rules in Favour of ICICI Lombard; Service Tax Dispute Resolved

CESTAT Rules in Favour of ICICI Lombard; 2282.56 million Service Tax Dispute Resolved

The Income Tax Appellate Tribunal (ITAT) Bangalore, has granted relief to Navi General Insurance Ltd. by deleting disallowances relating to amortisation of preliminary expenses under Section 35D and ESOP expenses claimed under Section 37(1).

ITAT Bangalore Allows Section 35D and Rejects Disallowance Without Disturbing Earlier Assessments

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Life Insurance and Taxes: Which Policies Give the Best Section 80C Deduction?

Got Money from a Life Insurance Policy or ULIP? Here's How It Is Taxed and Reported in Your ITR

Rs. 6.88 Crore TDS Demand on Aditya Birla Sun Life Insurance Quashed; ITAT Says No Tax Deduction Required on Overseas Reinsurance Premium

CESTAT Rules in Favour of ICICI Lombard; 2282.56 million Service Tax Dispute Resolved

ITAT Bangalore Allows Section 35D and Rejects Disallowance Without Disturbing Earlier Assessments

5 Hidden Benefits of Filing ITR Even If You Pay No Tax