Income tax after surrendering icici life time pension policy
This query is : Open
09 April 2018
I am having an icici life time pension policy it is a unit linked plan. Pension received on this policy is taxable. On completion of this policy I can get 1/3 amount equivalent to units value which is tax free. My query is if surrender this policy before completion will the amount received taxable?
09 April 2018
Generally, while surrendering a pension policy, the entire surrender proceeds will be added to your income and taxed as per your income slab.
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