sum received on maturity of SBI life 265873.Total(50000 per year) premium paid 250000 from 2015. How much of income is taxable?
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Quick Summary
This discussion explores the taxability of a maturity amount received from an SBI Life insurance policy. The user received £265,873, having paid £50,000 annually in premiums since 2015, totalling £250,000. While maturity amounts are not always taxable, specific policy details and circulars are needed to determine the exact taxable income.