14 July 2012
I had invested Rs.5000/- each in Jeevan Plus & Market Plus plan of LIC since 2006 to 2011 (5-years) and took benefit of deduction u/s-80C every year to the extent of 10,000/-. Now, in Mar-12 I have redeemed the units of the above policies and earned profit of Rs.22000/-. LIC has not shown any STT in the statement (that means that they have not charged?). But, my total income (including above 22,000/-) is below the taxable limit. Whether I have to pay any cap.gain tax or I.T. on it? Please advice. Thanks.
CAclubindia
