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Lic surrender

This query is : Resolved 
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(Querist)
18 June 2015 lic wealth plus single premium plan surrender taxable under which head.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
20 June 2015 depends on when for how long you held the policy before surrender
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Mamta Joshi

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Mamta Joshi (Querist)
22 June 2015 but sir under which head capital gain or other source......?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
22 June 2015 it is not a capital asset.....
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Mamta Joshi

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Mamta Joshi (Querist)
22 June 2015 purchase date 05/05/2010 amount 80000 no of unit 7268.7691 sale value 95065(nav 13.0786*7268.7691) surrender on 28/01/2015 and maturity year 2018 plz give treatment of above situation.

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