Home Life Insurance Taxation of Life Insurance Policy / Tax on Life Insurance Payout

Taxation of Life Insurance Policy / Tax on Life Insurance Payout

20
Taxation of Life Insurance Policy / Tax on Life Insurance Payout



Taxation of life insurance policies in India is generally assumed to be exempt however it is not so in all the cases. This video is an effort to discuss the taxation …

20 COMMENTS

  1. Excellent Video Anoop ji. One question for a 10 year policy if the premium paid for one year went above 20% will my entire policy payout become eligible for taxation( scenario where policy was taken before 2012). Kindly let me know your opinion.

  2. Sir, isme surrender of life insurance policy ka discussion nhi hai…..policy surrender par tax implication pe ek shorts video bana dijiye na….i had surrendered a policy, i hav to File it inn ITR this month, plz sir

  3. Hlo sir please ek baat baatiye maine apne saving ac main 60000 rs jama kiye the phir wo maine 5000 ya 10000 krke UPI krke khatam krdiye the phir papa ne mere ac main kbhi 25000 rupay Dale kbhi 10000 krke 75000 tk Dale aur phir voh UPI ke through kharch hogye aur money b aayi mere pass khi se 1.5 year ke andar mere ac main km se 2 lac tk ki transaction hui toh notice aayega merpe please reply

  4. Thank You For The Video.
    Insurance ko agents yahi bolkar bechte hai ki inse generated income aur investment totally tax free hai…
    Please is par detailed video banayein aur hum sb logon ko guide karein..

  5. Sir I took an annual policy of 24000 / – of sbi life in 2010. If the amount surrendered in 2021 was 445000 / – then what amount is considered taxable? My gross income for the year 2021-22 is around 7 lakhs.

  6. Hello Sir,

    Below are my Income details.
    Can you please make the video about how to calculate Income tax payable for the financial year 2021-22?
    If I have to pay income tax, in that case please suggest whether there is any need for investment or is there any other exemption?

    Income from Salary Monthly
    Basic 33000

    HRA 16500

    Conveyance Allowance 16040

    LTA 2750

    Medical 2750
    _______________________________
    Gross Salary 71040
    (-) Provident Fund 3960
    (-) Profession Tax 200
    _______________________________
    Net Salary 66880
    _______________________________

    Income from Health Insurance Agent Commission
    Total Commission 41211
    TDS 2063
    _______________________________
    Total Comm. In Hand 39148
    ________________________________

    LIC 50498
    PPF 52000

    Mediclaim 23363

    House Rent Monthly 13000

  7. Hi Sir,

    Can I share my income details with you for the FY 2021-22 to calculate income tax?

    I would like you to make a new video regarding calculation of income tax with my income tax? It will help people like me.

  8. Hi Sir,

    I purchased Endowment policy on February 2008 (Annual Premium – 23967 and Sum Assured is 5 Lac) and Jeevan Saral (Annual Premium – 24100 and SA is 5 Lac) in January 2009. I have already surrendered Jeevan Saral in March 2021 and Endowment in April 2021. In this case my surrender value is taxable ??

  9. For 10(10d) exemption, the premium criteria of 10% of sum assured is inclusive of gst or not?

    Suppose sum assured is 5 lakhs and premium paid is 50000 + GST then is it exempt or taxable?

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