Tax treatment of proceeds (Partial Withdrawal) from ICICI Prudential lifetime insurance policy

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atul sinha asked 9 years ago

I paid 11 premiums from Aug 2005 till 2015 in icici Prudential . The death benefit is 150000. I partly withdrew 520000.in Aug 2016. What are my tax liabilities for the FY 2016..17. Ay 2017..18.

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Sreekanth Staff answered 9 years ago

Hi, Your partial withdrawal is tax-exempt u/s 10.