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View Full Version : 80C : Tax benefit on surrender/termination of policy



lokeshz
16-08-2013, 06:50 PM
There is one clause in Income Tax act that if the premium is not paid for 2 continuous years from commencement (the insured may not want to continue), the 80C tax benefit taken in previous year(s) would be reversed. Is it applicable to Term Plan also?

MTG
18-08-2013, 06:43 PM
Yes, its applicable to term insurance also.