Treatment of sureender amount received

i have surrender my unit linked policy in the year 2011-2012 and the surrender amount of rs57053 is received.earlier i have paid a premium of rs 15000 p.a from year 2006-2010.

now i would like to know how it should be treated for tax purposes. 

                                                      thanks.

Replies (1)

If ULIP is surrendered after 5 years from the date of purchase then it is exempt from tax. Else it would be taxable as LTCG.

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