Taxation on surrender of lic market plus 1 policy

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33 Points Posted on 22 March 2014

I have purchased LIC market Plus -1 policy (single Premium) table no. 191 in sept 2008...

NAV was Rs.10 at that time...

in march 2014 i have surrender the above policy at NAV of 15.10

pls suggest me tax treatment on surrender of Market Plus -1 policy

 

 

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On 22 March 2014 at 18:04 Report
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Chartered Accountants
2015 Points Posted on 23 March 2014

in my view nothing is taxable in your case

 

but others views are also desirable

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On 23 March 2014 at 13:38

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