How do I report LIC payouts in my ITR?

livemint.com:

I purchased LIC’s Bima Bachat Plan 175 on 9 December 2013 after paying a single premium of ₹100,155. The term of the plan was nine years and the sum assured ₹1.5 lakh. As payouts, I got ₹22,500 in 2016 and ₹22,500 in 2019. The maturity proceeds of ₹1,13,580 was given on 9 December 2022. It included a final bonus of ₹16,500, while ₹3,075 was deducted as tax under section 194DA. In my Form 26AS, LIC has combined all the payouts ( ₹61,500) for FY2022-23, the year of policy maturity. I’m uncertain whether this consolidated amount should be included in my income tax return (ITR) for the current fiscal. If it should be included, what is the amount to be shown in the ITR and which ITR form is applicable here? —Name withheld on request We understand that you had purchased a life insurance policy from LIC (in the nature of pure life insurance) in 2013 and had made a one-time premium payment of ₹100,155 towards purchasing this policy.

As per the proviso to section 10(10D) of the Income-tax Act, 1961, any sum received under a life insurance policy, including the sum allocated by way of bonus on such policy, shall be taxable where policy is issued on or after 1 April 2012 and the premium payable in any of the year during the policy term, exceeds 10% of the sum assured. In the instant case, the one-time premium of ₹100,155 exceeds the threshold of 10% of sum assured (being ₹1.5 lakh). Thus, the sum received under the subject policy shall be taxable in your hands and no deduction under section 80C of the Act, is available towards the premium paid.