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Loss on insurance policy before maturity

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(Querist)
10 April 2013 i have paid 3 installment of a insrance policy of 20000 pa....but now its bcom expensive for me to pay the premium so i hve cancelled dis polcy. amount received by me is 48000. plz tell me whether d loss of 12000 can i claim as a loss under capital gain.
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
10 April 2013 You can't claim it as capital loss etc.... in addition to this if you have claim any exemption for this policy u/s 80C then entire amount of Rs. 48000 will be taxable in other sources of income.

OM SAI SRI SAI JAI JAI SAI
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Hemlata Agrawal

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Hemlata Agrawal (Querist)
10 April 2013 thanks sir
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