Lic bima bachat taxability

dilip phatak (64 Points)

29 July 2018  

I have invested Rs 617500 in BIMA bachat in 2014 I got Policy of Rs 8 lakhs.in 2017 I received Rs 120000 less TDs Rs 1200.I have not used invested amount for deduction u/s 80 C my question is whether amount of money back and if I surrender the policy amount received is taxable

Dilip Phatak