CGT on Policies purchased in LIC International when I was an NRI

Vidyashankar Samaga (self) (21 Points)

15 January 2025  

Hello,

 

I am currently a resident tax payer.  However, when I was a NRI, I purchased the following policies from LIC International (a subsidiary of LIC of India)

  1. Endowment policy (Premium start 2010 and end 2014)
  2. Professional education plan (Premium start 2010 and end 2014)
  3. Participating marriage/education plan (premium start 2013, supposed to continue till 2018 but discontinued after half premium paid in 2016)

Total premium paid in each of the cases was > 20% of the sum assured.

I would be grateful if you could advise it these policies will face Capital Gain Tax upon maturity (starting soon) and if yes, its calculations.

Thanks in advance.