Do You Pay Tax When An Endowment Policy Matures?
Sign Up to our social questions and Answers Engine to ask questions, answer people's questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people's questions & connect with other people.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Janny
No, you won’t necessarily face a tax bill on the proceeds when your policy matures. As stated under the Section 80C and Section 10(10D) of the Income Tax Act, 1961, you will get a tax exemption on maturity and final payouts. Although it could really depend from company to company, state to state or nation to nation.