Taxability of life insurance policy maturity

Tax planning 166 views 1 replies

How is proceeds from maturity from conventional policy plan from private Insurance player such as Kotak, etc be taxed -

1. assuming insurance premium is exceeding 10% of  basic sum assured

2. assuming insurance premium doesn't exceed 10% of basic sum assured

3. Also whether cost can be deducted from policy maturity amount considering full amount is taxable as Income from other sources.

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