Life Insurance Related queries
This query is : Resolved
28 January 2011
Dear Experts,
what is the consequence of terminating Life Insurance before maturity?Will the proceeds become taxable?
Secondly,on maturity is the sum assured taxable.In case of money back policies when the return starts coming in do they become taxable?
Regards,
Sukanya
what is the consequence of terminating Life Insurance before maturity?Will the proceeds become taxable?
Secondly,on maturity is the sum assured taxable.In case of money back policies when the return starts coming in do they become taxable?
Regards,
Sukanya
Guest
Guest
(Expert)
30 January 2011
Read the provisions of sub-section (5) of sec. 80C
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