Life insurance
This query is : Resolved
Querist : Anonymous
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?
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?
08 February 2013
01. repayment of loan is not deductible.
02. Maturity value is exempt.
03. Surrender value is exempt.
02. Maturity value is exempt.
03. Surrender value is exempt.
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