Taxab­ility­ of cash optio­n of jeeva­n dhara­ polic­y

This query is : Resolved 

21 May 2012 New Jeevan dhara is deferred annuity plan (Pension policy) by LIC of India, under which after 11 years annuitant has option to receive cash payment equal to notional cash option in lieu of payment of annuity.
Whether such notional cash option is taxable under income tax act, 1961.


27 May 2012 Yes. This is taxable.



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