ICICI Prudential Lifetime Pension

HRIM 1
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Sir, My father had taken an ICICI Prudential Lifetime Pension- Commencement Date: 19.2.2007 Premium Amount: 10K Pre-closure Date: Aug 2012 Actual amt paid- 30000. Amt recd on Aug 2012 is-29376.86

Is this amount recd taxable?

pre-closure section-80ccc taxable-amount pension-plan icici-pension-plan
1 Answers

In case he had taken income tax benefit under section 80CCC, whole surrender value will be added to his taxable income and will be taxed as per his slab rates.

But if he did not claim deduction, then only bonus/interest income/gains shall be added to his total income as income from other source and income tax will be applicable.

Pankaj Batra5212
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