Question

The Finance Act of 2023 amended Clause (10

  • D of Section 10 of the Income-Tax Act, 1961. Beginning from the assessment year 2024-25, any sum received under a life insurance policy (excluding unit-linked insurance policies) issued on or after April 1, 2023, will no longer be exempt under this clause if the premium payable for any of the previous years during the term of the policy exceeds ________-.
A Rs.5 lakh
B Rs.7 lakh
C Rs.9 lakh
D Rs.10 lakh
E None of these
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