June 19, 2013 10:51 am
Dear Nagraj, the SV is fully taxable in the Fy of receipt. Please calculate your tax liability & pay tax along with the penal interest.
I had a HDFC Personal Pension Plan with an annual premium of @ 90,000 INR subscribed in March 2002 for 15 year term and sum assured of 15,00,000 INR
I surrendered the policy in the March 2013 and the surrender value of 13,45,762 INR was provided to me.
I wanted to know my tax liability on this surrender value.
Dear Nagraj, what’s the query?
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