I invested Rs.6 lakhs (Sun assured =0) each year for 3 years from 24th December 2009 in icici prulife lifestage pension. So total investment over 3 years Rs.18lakhs. It matured on Oct 14th, 2020 Rs.28lakhs and I cashed out full. What is the tax implications on this? Can I get indexation benefit?
Whole of the amount i.e. Rs 1800000 is taxable as per section 80CCC(2).
Thanks
Why will they tax money for which I already paid tax? I did not take any 80c benefit for this investment in 2009 to 2011.
Mr Binni
You have to accept law, you cannot say why to law.
Your investment was eligible for deduction at the time of investment. It was your choice to claim or not.
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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