hi, please advise whether life insurance maturity amount is
fully taxable.
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%.
3 Replies
itefiling.accfin@gmail.com
(48 Points)
Replied 04 July 2019
thanks for the reply
whole insurance maturity amount is taxable.
whole insurance maturity amount is taxable.
rama krishnan
(12244 Points)
Replied 05 July 2019
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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