Life insurance proceeds taxable for premium over Rs 5 lakh

[IndiaInsurance]

https://img.etimg.com/photo/97521155.cms (https://economictimes.indiatimes.com/wealth/personal-finance-news/life-insurance-proceeds-taxable-for-premium-over-rs-5-lakh/articleshow/97521155.cms)Currently, the maturity proceeds for all types of life insurance policies, which include death benefits, maturity benefits and accrued bonus, are tax-free if the premium does not exceed 10% of the sum assured for policies issued after 1 April 2012, and does not exceed 20% of the sum assured for policies issued between 1 April 2003 and 31 March 2012.

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