Tax liability on surrender value of Pension Policy

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  1. mandu

    mandu New Member

    Sir

    I have taken a ICICIpru's Lifestage Pension Advantage policy in June 2010 with an annual premium of Rs.1 lakh and continued payment for the year 2011 and 2012 and thereafter I stopped paying premium towards that policy.

    Now in July 2016 I surrendered the policy and received NAV of Rs.4,14,000/- ( i.e 3 lakhs premia for three years and 1.14,000/- based on NAV).

    Can you please advise me what is my tax liability towards receipt of the above amount in the AY 2017-18.
     
  2. mandu

    mandu New Member

     
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