Budget 2023-24: Life Insurance Maturity Sum With Over Rs. 5 Lakh Premium To Be Taxed

Last updated: 03 February 2023

An individual will have to pay tax on the maturity amount of life insurance policies where the aggregate annual premium exceedsRs.5 lakh, according to a Budget proposal presented on Wednesday. Finance Minister Nirmala Sitharaman in the Union Budget proposed to provide that where an aggregate of p

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