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LIC pension policy

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(Querist)
25 March 2021 What is the tax treatment of surrender of pension plan of LIC before maturity? say one time payment to lic 50000 and money received on surrender rs. 75,000.
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Ganeshbabu K

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Ganeshbabu K (Expert)
27 March 2021 Entire sum received by you(Rs.75,000) will be taxable under the ‘income from other sources’ head and will be taxed at the applicable slab rate.
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