25 June 2019
Got ULIP single premium of Rs.500000/- with sum assured as Rs. 500000/- on Feb 2005 from ICICI Pru life. In addition to this paid 2 more premiums as ICICI pru life send mailer requesting premium payment though plan was single premium. Surrendered this June 2019 (14yrs), ICICI Pru life is deducting TDS of 1% on the surrender value. My question is - Is the amount taxable. If not whether we can reclaim the TDS amount. Thanks
CAclubindia
