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Taxability of Surrender value of Life Time Super Policy

Service Tax (Legacy) 1007 views 1 replies

My client being an Individual has received surrender value of Life Time Super Policy with ICICI Prudential of Rs.81974/05 against total premium payments of Rs.78000/-till Aug,2009. He received the said S.V. in Sept,2009 laong with benifits.

How to be treated the same from tax angle point of view & accounting point of view in books.

Replies (1)

incomplete details

date of commencement / type of policy , sections applicable viz 80C

needed for reply 


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