Taxability of insurance policy proceed after 5 years
This query is : Resolved
11 August 2015
one of my client have taken market linked life insurance policy for 10 years but due to not desirable appreciation, he just want to withdraw this amount after 5 years. Whether This amount will be liable for Income tax and under which section .
11 August 2015
If after five years nothing will be taxable but he wants surrender before five years it would be taxable under head other sources .
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