Doubt in life insurance taxability

This query is : Resolved 
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This discussion clarifies the taxability of a life insurance payout received after a 5-year term. The user received Rs. 5,87,252 against premiums paid of Rs. 5,05,000. The consensus is that only the profit element, which is Rs. 82,252 in this case, is taxable, provided no tax benefits under Section 80C were claimed.

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(Querist)
25 June 2022 Please give taxability of below situation.

there is a receipt of rs.5,87,252 from life insurance company which is received after the term of 5 years. premium paid till now is 5,05,000. My doubt is whether total 5,87,252 taxable or only 82,252 is taxable.
Sum assured is 7,07,000.
Premium is 1,01,000 PY.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
25 June 2022 Only 82, 252 is taxable if no tax benefit under section 80c availed.
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Vamsi Krishna

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Vamsi Krishna (Querist)
26 June 2022 Thanks for the clarification sir..
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