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How To Calculate Income From Life Insurance Where Premium Exceeds Rs 5 Lakh, CBDT Explains

For premiums beyond a limit, proceeds will be added to income and taxed at applicable rates
For premiums beyond a limit, proceeds will be added to income and taxed at applicable rates
The Income Tax department on Wednesday prescribed a mechanism for calculating income proceeds from life insurance policies where aggregate annual premium exceeds Rs 5 lakh.
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