The Central Board of Directed Taxes (CBDT) has notified the computation of income chargeable to tax for the amount received under the life insurance policy.The CBDT has inserted Rule 11UACA in the Income-tax Rules,1962 by notifying Income tax Amendment (Sixteenth Amendment), Rules, 2023.Rule 11UACA states the manner of computation where any person receives at any time during any previous year...
