NRI INVESTMENT IN SBI LIFE INSURANCE PENSION POLICY SURRENDER PROCEEDING IS TAXABLE OR EXEMPTED.
Read more at: https://www.caclubindia.com/forum/create_message.aspNRI INVESTMENT IN SBI LIFE INSURANCE PENSION POLICY SURRENDER PROCEEDING IS TAXABLE OR EXEMPTED.
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IS SBI LIFE INSURANCE POLICY IS TAXABLE
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Death benefits are always tax-free. Maturity benefits are tax-free provided the annual premium remains within specified limits (generally 10% of the sum assured, or aggregate caps of ₹2.5 lakh for recent ULIPs and ₹5 lakh for recent non-ULIPs). If you exceed these thresholds, the profits from the policy become taxable.
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