Calculation of income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 August 2018 Dear Sirs,

I need your precious help in order to clarify a query related to the below mentioned Policy.

Policy name : Life Stage Pension
Organization : ICICI Prudential Life Insurance
Policy Term : 10 Years
Age of policy holder (Female) : 69 years
Yearly Premium : Rs.200000/- (Two Lakh only)
Date of commencement of the Policy : 20/01/2009
Due date of last premium : 20/01/2018
Cover Cessation date : 20/01/2019
But, voluntarily the Policy is closed on : 12/06/2018
Amount received on closure : Rs.34, 00,000/-

Now, what will be the calculation under Income Tax? Kindly let me know the calculation of Income Tax as well as the exemption, if any.

Your reply is ever precious to me.

Thanking you,

Yours faithfully,
Subhadip Acharya

CA Jubair J Jeri

CA Jubair J Jeri (Expert)
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07 August 2018 amount of sum assured ?

Querist : Anonymous

Querist : Anonymous (Querist)

07 August 2018 As per Policy Certificate the Sum Assured is Rs.0.00. Being is a Pension Policy, there is no Sum Assured Amount.

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