Income tax on lic wealth plus

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2013 Hi,
I had Lic Wealth plus of single premium 40000/- started on 23/03/2010
Sum Assured:50000/-

As nav is going below I have surrendered and got 36176/- from it after 3 yrs (No surrender value deducted as surrendered after 3 yrs.)

Now for FY 2013-14 ay 2014-15 how much amount from it will be taxable? Please advised i am confused.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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04 September 2013 Two portions
1 is original 40,000 paid by you
2 is 36176 received by you

What was the treatment when you paid 40000 have you shown that as investment? if yes then there will be a loss and you can calculate capital gains loss which can be carried forward