Taxability of surrendered policies
Insurance policy taken on 19.08.2010. Surrendered on 03.12.2014 Total premiums paid Rs.18 lacs paid for 3 years and surrender amount received Rs26.64 lacs. premim not claimed u/s 80c in earlier years. What are the tax implications ?? Can anyone clarify !!
Replies (2)
no benefit of incometax, for policies where the term of 5 yrs is not completed
What is the taxable amount
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