sir...I have a policy of sum assured 9 lacs...my premium is around 1.5 lacs...my payout will 99000 after maturity for 15 years...I wanted to ask you that...full amount of payout..I.e 99000 is taxable or the amount which is higher than the 10% of sum assured is taxable which is 9000 in my case...
Full amount will be taxable.
As you already claimed deduction for premium, whole payout will be taxable.
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