Maturity of life insurance ...


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Querist : Anonymous

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Querist : Anonymous (Querist)
16 April 2014 If assesse is resident and he has taken Life insurance from a foreign Insurance company at the time when he was NRI. Now he is resident and surrendered the policy. On surrender he gets surrender value in foreign currency.
Please suggest tax implication.
My opinion....it is non-taxable

16 April 2014 It will go to the Exempted income & not liable for Tax.

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 April 2014 Thanks for your expert advise


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