This is very informative video..Thank you. I have taken a policy where I pay annually 2L for 12 years and from 16th year I get 2L for 30 years and 25L maturity amount after 30 years. Are the monthly amounts received and annuity amount received are taxed? Or exempted?If taxed..under which head
Thank you for sharing your insights and recommendations. Its great to explore various investment options, especially well-known companies like Cannafarm Ltd that are gaining popularity. Adding different ventures to our portfolio can help reduce risks in
This certainly sounds good too, but I think its still worth considering more reliable options like traditional businesses such as cannafarm ltd, for example.
Hi Sir, How about the taxation for NRIs related to Maturity Benfits/Death Benefits and to which account Maturity Benefits are transferred NRE account or NRO account.
Sir,Single premium endowment plan lic 917 ke maturity taxation ke bare bataiye aur ye plan section 56 me double deduction allow hai ki nhi vo bhi bataiye
Sir , will there be any tax implications during disbursal of term life insurance payout to family after demise of insured person ie TCS / later income tax etc. If yes at what rate of tax applicable
Hi Sir, Do we have to pay tax on Maturity? If Premium per year is 1lakh and sum assured is 20lakh and insurance taken in 2021. If need to pay tax then on what value? Maturity = Sum Assured + Interest + Bonus
Hello Dear , Thanks for sharing educational Videos. I bought Max life Life Gain 20 policy .Its was Participating policy in 2013 and made investment of 1.5 Lakh in 6 years . In 2023 , I surrender the policy with loss of 25K . Can i book loss of 25K ? In which head of Income Tax I can file losses . Thanks .
Sir, aage se premium ke saath per year ka bhi explain kar diya kariye, confusion ho raha hai ki aap jis premium ki baat kar rahe ho woh per annum smjhu ya total premium until the last installment is paid.
Koi customer 30% tax slab mei ata hai...Ab unka ek ulip maturity hua hai..Usme TDS deduction hui hai...Ab mujhe janna hai ki 30% slab mei ata hai to unko or koi tax dena parega yaa nehi dena parega.
Sir, ICICI pru sold many policies under Guranteed Savings Plan non participating, endowment with 7 yrs premium pay of 30K, SI 2.1L, policy term 15yrs. Means maturity pay is taxable? Is that correct. They sold policies as Maturity Amt is Taxfree. Can you please elaborate.
Sir yadi kisi policy ko LIC khud hee close kar day to kya hoga? Maine fortune plus main 2008 main invest kiya. 2023 main, 15 saal baad, proceeds mila. Kya vo taxable hai?
LIC of india diducted Tds even if my policy issued on September 2013 having premium paid below 5 lakhs ie only 160000+ tds which was discontinued after paying 3 yearly payment. Please clarify Sir.
Sir can u help me with Gst effect. My question is if a maturity is taxable then premium inclusive of gst should be considered for deducting against maturity or exclusive of gst?
Sir jeevan utsav me 5 years premium pay krenge and then 11th year se 50000 per year refund ayega..to wo taxable hoga ke nahi ?ya income me add hoga ya nahi ?please guide..
If I'm taking 5 lakh p.a traditional policy for 5yrs in fy 2023-24 and taking other 5 lakh p.a (new policy) in 2024-25 then this 2024-25 policy will be taxed or not ?
what about LIC pension policy , if the Pension policy is purchased in 2024 for example for 1 Cr and the deferment period is 10 or 12 years and the pension received after 10 or 12 years @ of 13 to 14% how much will it be taxed and how will it be taxed once the person starts receiving pension yearly ?
A ULIP policy is bought in 2008 and is still active with a the yearly premium is LESS THAN 20% of the maturity amount. I would like to surrender the policy today. Please advise whether the total surrender value if tax free as per section 10(10D) or not. Thanks
Sir, if I take new policy in 2023 of 5 lakh, 15 year premium paying Than in 2024 New policy of 5 lakh 20 year premium paying Further in 2025 take New policy of 5 lakh 25 year premium paying Than all are tax free ?
Very well explained.. lots of clarity.. eye opener who think LIC maturity value is unconditionally non taxable. Regards.
Quite Informative. Thanks for walking us through the taxability clutter...
This is very informative video..Thank you.
I have taken a policy where I pay annually 2L for 12 years and from 16th year I get 2L for 30 years and 25L maturity amount after 30 years. Are the monthly amounts received and annuity amount received are taxed? Or exempted?If taxed..under which head
it depends on ur sum assured
Thank you for sharing your insights and recommendations. Its great to explore various investment options, especially well-known companies like Cannafarm Ltd that are gaining popularity. Adding different ventures to our portfolio can help reduce risks in
This certainly sounds good too, but I think its still worth considering more reliable options like traditional businesses such as cannafarm ltd, for example.
Very well explained , Thanks
Some discussion be made regarding tax effect on claims received by policy holders in health insurance.
Hi Sir,
How about the taxation for NRIs related to Maturity Benfits/Death Benefits and to which account Maturity Benefits are transferred NRE account or NRO account.
Sir section 10(10) mein sum assured ke 10℅ ka premium with gst pakdenge. Ya without gst premium pakdenge
Sir, LIC surrendered karne se amount receive hua hai toh kya vo bhi section 10 (10D) mai exempt hota hai?
Sir,Single premium endowment plan lic 917 ke maturity taxation ke bare bataiye aur ye plan section 56 me double deduction allow hai ki nhi vo bhi bataiye
Sir , will there be any tax implications during disbursal of term life insurance payout to family after demise of insured person ie TCS / later income tax etc. If yes at what rate of tax applicable
Pls guide on PLI maturity
Well explained sir..thank you!
Superb sir..very well explained.👌 👌👌
Explained very nicely
Hi Sir,
Do we have to pay tax on Maturity?
If Premium per year is 1lakh and sum assured is 20lakh and insurance taken in 2021.
If need to pay tax then on what value?
Maturity = Sum Assured + Interest + Bonus
Hello Dear , Thanks for sharing educational Videos.
I bought Max life Life Gain 20 policy .Its was Participating policy in 2013 and made investment of 1.5 Lakh in 6 years . In 2023 , I surrender the policy with loss of 25K . Can i book loss of 25K ? In which head of Income Tax I can file losses . Thanks .
Sir, aage se premium ke saath per year ka bhi explain kar diya kariye, confusion ho raha hai ki aap jis premium ki baat kar rahe ho woh per annum smjhu ya total premium until the last installment is paid.
Sir apko bajaj allianz ki details chaiye ho to plz rply
Koi customer 30% tax slab mei ata hai...Ab unka ek ulip maturity hua hai..Usme TDS deduction hui hai...Ab mujhe janna hai ki 30% slab mei ata hai to unko or koi tax dena parega yaa nehi dena parega.
As you said long term capital gains is 20% , Sir is it correct
Great... I was looking for this since long 🙏
Should we include gst?
सर् जी
सिंगल प्रीमियम पर टैक्स का क्या प्रोवीजन है बताइयेगा
Thanks Bro
But what about on Ulip where sum assured is 7* of annual premium
Sir, ICICI pru sold many policies under Guranteed Savings Plan non participating, endowment with 7 yrs premium pay of 30K, SI 2.1L, policy term 15yrs. Means maturity pay is taxable? Is that correct. They sold policies as Maturity Amt is Taxfree. Can you please elaborate.
Sir yadi kisi policy ko LIC khud hee close kar day to kya hoga? Maine fortune plus main 2008 main invest kiya. 2023 main, 15 saal baad, proceeds mila. Kya vo taxable hai?
LIC of india diducted Tds even if my policy issued on September 2013 having premium paid below 5 lakhs ie only 160000+ tds which was discontinued after paying 3 yearly payment. Please clarify Sir.
Sir 2023 se pehle me Jo sum assured ka criteria ha wo pure premium ka hai ya per year ka
Sir can u help me with Gst effect. My question is if a maturity is taxable then premium inclusive of gst should be considered for deducting against maturity or exclusive of gst?
@@Pujaagarwal-y5q exclusive...for such calculation, prem w/o gst is considered
Sir jeevan utsav me 5 years premium pay krenge and then 11th year se 50000 per year refund ayega..to wo taxable hoga ke nahi ?ya income me add hoga ya nahi ?please guide..
Taxable. But if u want it taxfree,go for term rider in the same policy so that sum assured amt will be doubled n prem will remain under 10% of SA
If I'm taking 5 lakh p.a traditional policy for 5yrs in fy 2023-24 and taking other 5 lakh p.a (new policy) in 2024-25 then this 2024-25 policy will be taxed or not ?
Jeevan suraksha policy vested bonus is taxable?
Single premium policy taken after 2013? What is the tax regulation?
what about LIC pension policy , if the Pension policy is purchased in 2024 for example for 1 Cr and the deferment period is 10 or 12 years and the pension received after 10 or 12 years @ of 13 to 14% how much will it be taxed and how will it be taxed once the person starts receiving pension yearly ?
A ULIP policy is bought in 2008 and is still active with a the yearly premium is LESS THAN 20% of the maturity amount.
I would like to surrender the policy today.
Please advise whether the total surrender value if tax free as per section 10(10D) or not.
Thanks
@@ddutta541 capital ke uper jitna gain hua hai uspe 5% ka tax lagega under 10(10)d
If I surrender hdfc pension policy taken in 2008 before maturity...then the fund value I am getting is taxable or not?
What is the treatment of Single Premium Policies
Sir, you are talking about per policy. If I have more than one policy then criteria told by you is for gross or single policy considered
I think yearly premium.
You have to see each policy and it’s annual premium and determine if it’s taxable or not.
What is the scenario in new tax regime?
I am shocked to hear that Ulip actually gives gains to pay tax 😮 Ulip me to loss setoff ka option hona chahiye actually 😂
to sir tax lgti h... to kitna %taxable h
Do i have to pay tax on capital gain if I surrender my ULIP after 5 year lockin completion?
One time premium ka case bataiye
Pre maturity policy main TDS dena padega
During watching this video, I remember the lectures of class 10 history sir. Somany tax rules in life insurance. 😅
What is taxation under capital gain in free look period
If i take the saving life insurance plan
And i pay a premium of 5L plus 22k GST. As after GST the premium is more than 5L then will i be taxed?
No because principal ammount considered for tax
Sir 20% premium means yearly 20% premium of sum assured .
Yes
What about pension policy?
Means ab LIC POLICY KI BHI PRACTICE KARNA PADEGA AB TAX PROFESSONAL KO
Sir, if I take new policy in 2023 of 5 lakh, 15 year premium paying
Than in 2024 New policy of 5 lakh 20 year premium paying
Further in 2025 take New policy of 5 lakh 25 year premium paying
Than all are tax free ?
No the limit is 5 lakhs per PAN...2024 & 2025 policies when mature will attract tax at slab rate
What about taxation of annuity policy
Best video
👍👍👍👏👏
As per your clarification, it appears that middle class families will ruin in India.
Middle class is already ruined by taking endowment plans.
Does anyone know if Tax Exempt in India would also means tax exempt in foreign country E.g. for NRIs in US holding LIC policies in India ?
ofcourse not US will tax you to death :-)
It's taxable in US
maturity m taxable h to kitni percent h... taxable h