ICICI Pru Life Time Pension Plan II Taxability

POSTED BY birla.venugopal ON September 17, 2013 7:20 pm COMMENTS (4)

We have invested in ICICI Pru life time Pension Plan II and already paid 81 installments of rs 10000 each. The policy was for 10 years period but we premature it in oct 2012 and received Rs 810000 as principle and Rs 2,83,991 as interest.

Please advise on taxability of sum received

4 replies on this article “ICICI Pru Life Time Pension Plan II Taxability”

  1. ashalanshu says:
    September 18, 2013 at 3:39 pm

    Dear Birla, the surrender value is taxable as income from other sources.

    Thanks

    Ashal

    Reply
  2. birla.venugopal says:
    September 18, 2013 at 1:26 pm

    Thanks a lot for your answer. Can you please tell that the said whole amount is taxable under which head?(Capital Gain or Other Sources) in ITR and section under which it is taxable?

    Reply
  3. ashalanshu says:
    September 18, 2013 at 10:07 am

    Dear Birla, the amount received as surrender amount in total is taxable in case of a Pension Plan.

    thanks

    Ashal

    Reply
    1. birla.venugopal says:
      September 18, 2013 at 1:26 pm

      Thanks a lot for your answer. Can you please tell that the said whole amount is taxable under which head?(Capital Gain or Other Sources) in ITR and section under which it is taxable?

      Reply

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