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Life insurance

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 February 2013 hello expert,

I need to ask following queries:-

1) is repayment of loan taken (R.s 11L) for payment of annual premium on life insurance deductible from gross total income of an individual?

2)is maturity value exempt from tax on maturity?

3) is surrender value exempt from tax on getting policy surrender?
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Amol S Joglekar

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Amol S Joglekar (Expert)
08 February 2013 01. repayment of loan is not deductible.
02. Maturity value is exempt.
03. Surrender value is exempt.
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