[aaykarbhavan] ALLIANZ BAJAJ LIC

Friends,

my client had taken life policy from bajaj allianz for Rs.10,00000/-
said policy was for 5 years and premium was 200000 pa.

after 3 years he, surrendered the policy and got abt 10 lacs

the amount received is based on m/funds bought by the co.

would like to know whether this receipt is exempt u/s10D ?
or is liable as LTCG ? as co has invested money in m/funds and redemption is on the MV of units allotted .
besides m/funds have not attracted STT.

thanks

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Posted by: moizjaorawala@yahoo.com

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