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PolicyWala NewBie
HDFC ULIP policy surrendered - tax on the receipt amount?
I have been regularly paying premium of Rs. 25000/- for my insurance HDFC ULIP policy, starting from the year May 2007 on an yearly basis. I had surrendered the said policy on 30.03.2011 and the total amount received as about Rs. 95000/-. I had claimed the tax rebate of the above premium under section 80 C till last year. Please let me know the tax amount I need to pay on the receipt of the above Rs. 95000/-.
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