Life Insurance Maturity Proceeds

Tax Glossary Definition

Life Insurance Maturity Proceeds

Refers to the amount paid to the policyholder when a life insurance policy reaches its maturity date. The proceeds are exempt from tax under Section 10(10D) of the Income Tax Act, provided the premium-to-sum-assured ratio satisfies the specified conditions.

Example: If a policyholder receives ₹5 lakh at maturity after paying total premiums of ₹2 lakh, the amount is fully exempt under Section 10(10D).

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