March 6, 2013 9:31 am
i am going to surrender my ULIP(pension plan) this month.do i need to show the amount recieved in the present finacial year as income and pay tax or is it for fy13-14?
Dear Dilip, the tax liability ‘ll depend upon the holding period of your ULIP? How many years you hold your ULIP? If it’s more than 3Y, the surrender amount is tax free.
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