One reply on this article “Is Surrender value in LIC policy after 3 yrs taxable ?”

1. RohitShenoy says:

   August 11, 2014 at 5:19 pm

   if life insurance policy is surrender after 2 years then maturity value/surrender value is not taxable in your hand.Infact it is never taxable .

   However in case you have encashed your policy before completion of 2 years then you have to add back 80 c deduction earlier claimed ,But in your case three years has been elapsed so no need to worry amount is not taxable at all

   Pls note that your sum assured in policy must be 5 time of premium paid yearly means sum assured must be 160000 rs

   Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.