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Thread: 80C : Tax benefit on surrender/termination of policy

  1. #1
    NewBie
    Join Date
    Aug 2009
    Location
    India
    Posts
    13

    Default 80C : Tax benefit on surrender/termination of policy

    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?




  2. #2
    PW Expert MTG's Avatar
    Join Date
    Apr 2009
    Location
    Pune
    Posts
    122

    Default

    Yes, its applicable to term insurance also.


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