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Union Budget 2023: Maturity Proceeds of Insurance Policies with Premiums Over ₹5 Lakh Now Taxable

  • Maturity proceeds of insurance policies with premiums over ₹5 lakh are now taxable.
  • Tax exemption provided to the amount received on the death of a person insured will not be affected.
  • Insurance policies issued till March 31, 2023 will not be affected.
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