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View Full Version : Taxable or non taxable - Money Back policies?



anurag
04-11-2011, 03:37 PM
On maturity of normal Life Insurance Policy the sum assured is not taxable. What in case of money back policies when the return starts coming in do they become taxable?

Madhura
04-11-2011, 08:56 PM
Under the provisions of section 10(10D) of the Income-tax Act, 1961, Maturity/Death claims proceeds of life insurance policy is exempted from income-tax.

>take
05-11-2011, 02:39 PM
On maturity of normal Life Insurance Policy the sum assured is not taxable. What in case of money back policies when the return starts coming in do they become taxable?Other than pension plans all life insurance proceed are exempted from Income Tax.

victoriaB
21-11-2011, 02:04 PM
Yes. life insurance are exempted from Tax.