Hi Everyone,
I recently surrendered insurance policies and would like to know if the value is taxable or not.
I read somewhere that it's not taxable. if it's true then do we need to add in the Schedule of Exempted income in ITR?
Appreciate your help here.
Thanks
Maddan
not sufficient information. this article may help you decide better: https://www.adityabirlacapital.com/abc-of-money/know-about-tax-in-case-you-surrender-life-insurance-policy
Hi Nikhil
I surrendered insurance and the surrender funds came to my nre account. I held that ulip for more than 5 years. What is the tax liability in such case?
Do I need to pay tax or not?
If I don't have to pay tax then do I need to include in ITR filing?
Thanks
Maddan
Hi Nikhil
I surrendered insurance and the surrender funds came to my nre account. I held that ulip for more than 5 years. What is the tax liability in such case?
Do I need to pay tax or not?
If I don't have to pay tax then do I need to include in ITR filing?
Thanks
Maddan
CAclubindia
