Now, life insurance maturity money will not be fully tax-exempt: CBDT issues new tax rules

The Central Board of Direct Taxes (CBDT) has issued guidelines on how tax exempt portion from life insurance policies will be calculated (bought on or after April 1, 2023). This would mean that now maturity proceeds from life insurance companies will not be fully tax-exempt except in certain cases. Read on to know more about it.

from Tax-Wealth-Economic Times https://ift.tt/75cOrRJ