Tax exemption on insurance pension plan

Check the terms of the policy. Prima facie, 1/3rd of the surrender amount should be tax-exempt.

Some pension policies are framed having tax benefit as per sec10(10A) of IT act.. 

But exact tax liability differ with different products; here this is just an estimate.

Refer:  https://www.caclubindia.com/forum/maturity-amount-of-policies-469226.asp

sir, thanks for your kind reply.my doubt is since part of the maturity amount is reinvested, whether the whole maturity amount to be taken as taxable income or the only the amount received in bank. plz clarify

Exact clarification would be available from the insurer, or from the scheme details document. Without referring the details it would be difficult to give any reply.

Generally, the amount reinvested in annuity gets exempted, while 1/3rd of the maturity value of pension scheme is commuted pension and hence exempted. Remaining part is only taxable. But get confirmation from insurer company's helpline &/or website.

very kind of you.. thanks for your response

Most Welcome, Dear ..