Surrender value of insurance policy

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Manager - Finance & Accounts
27 Points Posted on 16 July 2013

Sir,

I got the sum of Rs.435641 on 13.04.2012 as the surrender value of Life insurance policy, would it be chargible to Income Tax, if no then which ITR form i have to furnish to show this exempt income.

Policy commencement date : 12.07.2005

Annual Premium : 60000

Sum Assured : 6 Lakh

Payment Tenure was : 15 years

 

Thanks,

Gagan Kr.

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On 16 July 2013 at 16:14 Report
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B.com ACA
5923 Points Posted on 16 July 2013

Exempt u/s 10(10D)...show in Exemption schedule in ITR-1

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On 16 July 2013 at 16:24
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Manager - Finance & Accounts
27 Points Posted on 16 July 2013
Originally posted by : Saurabh Maheshwari

Exempt u/s 10(10D)...show in Exemption schedule in ITR-1

but there is no Exemption schedule available in ITR-1


 

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On 16 July 2013 at 17:04
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article
21 Points Posted on 16 July 2013
Both expert said right
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On 16 July 2013 at 19:20

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