Tax treatment on redemption of pension plan
This query is : Resolved
11 March 2013
What will be the tqx treatment on redemption of pension plan before maturity and after paying 9 premiums? If it is wholly taxable will the premiums paid till date be deducted from the surrender value received if deduction u/s 80 ccc has not been availed and will I get the benefit of indexation on such premium? Say premiums of rs 10000 each yr fr 9 yrs have been paid n redemption value comes to say rs 150000. Pls tell me the tax treatment.
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CA Parul Saxena
(Expert)
11 March 2013
Amount received on redemption will be taxed under the head 'income from other sources' and yes premium paid will be deducted from the amount received...
11 March 2013
N will I get d benefit of indextion on such premium paid?
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