Need A Financial Product › Forums › Tax Savings › Is receipts from surrendering LIC Market Plus ? I Policy taxable › Is-receipts-from-surrendering-LIC-Market-Plus-I-Policy-taxable_REPLY

September 8, 2014 at 6:22 am #47216
Sameer Kapoor
Participant

It does not matter whether you have claimed any tax benefit or not during the premium payment period. This being a pension policy, surrender value will be taxable in the year of its receipt.