ICICI Prudential Lifetime Pension

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?

asked Jul 26 '13 at 16:59 by HRIM 12723

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.

answered Jul 27 '13 at 21:21 by Pankaj Batra 5.2k320


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Asked: Jul 26 '13 at 16:59

Seen: 2,277 times

Last updated: Jul 27 '13 at 21:21