hi, please advise whether life insurance maturity amount is
fully taxable.
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life insurance maturity amount is taxable
Replies (3)
Taxable if:
* For policies issued on/after Apr 2012: if premium paid is more than 10% of sum assured. For old policies: 20% instead of 10%.
thanks for the reply
whole insurance maturity amount is taxable.
whole insurance maturity amount is taxable.
no.. only the difference between the maturity amount and total premium paid is taxable if you haven't claimed 80c deductions on the policy in the previous a. ys but if you have claimed 80C deduction then the entire maturity amount is taxable
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