What is death benefit and 10(10)D and 18C?

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Death benefit is a sum of money paid out to the beneficiary of a life insurance policy upon the death of the insured. 10(10)D and 18C are sections of the Income Tax Act related to taxation of life insurance policies.

Death benefit is the amount paid out to the beneficiary of a life insurance policy when the insured person passes away.
10(10)D is a section of the Income Tax Act that deals with the tax treatment of death benefits received from life insurance policies.
18C is another section of the Income Tax Act that pertains to the taxation of income from life insurance policies.
Understanding these sections is important for financial managers to ensure compliance with tax laws and proper handling of life insurance policies.

What is death benefit and 10(10)D and 18C?

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