DWQA User Profile PrakashQuestions(9)Answers(5)Posts(0)CommentsThanks for your response. From a risk perspective, I would say that we are willing to take a risk of 20%. In other words, we are quite conservative and risk averse.On Answer for Regarding investing In FDDear Sreekanth - Thanks for resolving my queries satisfactorily.RegardsPrakashOn Answer for Tax treatment of proceeds from termination of ICICI Prudential lifetime insurance policyI had forgotten to pay the premium in 2010. Hence paid the third premium in 2011. Subsequently I have not paid any further premiums. Whenever I am checking the latest fund value, it is reflecting the total of 3 premiums and the accruals. Also, can you pls indicate the IRDA clause under which the tax exemption clause is applicable. On Answer for Tax treatment of proceeds from termination of ICICI Prudential lifetime insurance policyI had forgotten to pay the premium in 2010. Hence paid the third premium in 2011. Subsequently I have not paid any further premiums. Whenever I am checking the latest fund value, it is reflecting the total of 3 premiums and the accruals. Also, can you pls indicate the IRDA clause under which the tax exemption clause is applicable. On Answer for Tax treatment of proceeds from termination of ICICI Prudential lifetime insurance policyDear Sreekanth,Thanks for your immediate response.I paid three annual premiums during Aug 2008, Aug 2009 and 2011 Aug, respectively. Did not pay in 2010. In all, I had paid 3 annual premiums during 2008 - 20111.As per your earlier response, if I have paid 3 premiums then I need not pay any income tax on the total withdrawal proceeds (that is, 3 premiums and accruals). Is my understanding correct? Pls confirm. In addition, also pls note that I had not claimed any tax benefit for the premiums paid during the respective years (2008, 2009 & 2011)Also, can you pls indicate the relevant IRDA clause that provides clarity on this issue.Thanks and RegardsPrakash On Tax treatment of proceeds from termination of ICICI Prudential lifetime insurance policyDear Sreekanth.Thanks much for providing a fast and comprehensive response to the query.PrakashOn Varishtha Bima Yojan Vs Govt’s new Senior Citizen Fixed Deposit SchemeCrop
