Tax on pension plan surrender

Dear Pankaj

I have one more related query. I had taken a icici prudential pension plan in 2003. This plan I surrendered in 2010 and got the money.

Will this amount be taxable?

Regards, Vishal

asked Jul 20 '11 at 13:08 by Amit91 196456

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

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

answered Jul 20 '11 at 18:20 by Pankaj Batra 5.2k320


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Asked: Jul 20 '11 at 13:08

Seen: 4,023 times

Last updated: Jul 20 '11 at 18:20