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

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • September 4, 2014 at 4:12 pm #47215
    samkapoor77
    Keymaster

    I have been investing for last 3 years in pension plan ?LIC Market Plus ? I Policy?. During the payment period of this policy, I have not claimed any sort of tax benefit on it. A month before I have surrendered the policy and has already received the value. I just want to know whether the surrender value received from the policy is taxable or not.

    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.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.