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If you take out a life insurance policy with an annual premium of more than Rs 5 lakh, the maturity proceeds will be taxable.

New delhiIt department introduces newIncome tax departmentIncome tax amendmentSixteenth amendmentCentral boardDirect taxesNew ruleFinance actMiss outNew rulesHigh life insurance premiumsMaturity proceedsIncome tax amendment sixteenth rulesRule 11uacaUnion budget 2023 24