Surrender value of insurance policy

Tax queries 881 views 3 replies

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.

Replies (3)

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

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


 

Both expert said right


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