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Tax implication for surrender of policy

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 May 2013 Assessee has taken unit Linked Pension Plan for 10 years. After 8 years due to favourable market condition he wants to cancel the policy / wants to redeem units . What is the tax implication at the time of remdemption /cancellation ?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
04 July 2013 It is exempted from tax since it is crossed 5 years

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