I file income tax returns in the form ITR 1. —Bimla KumariWe assume that the shares you sold were of companies listed on recognized stock exchanges in India. Further, as per provisions of the income tax law, LTCL can be carried forward for eight financial years immediately succeeding the current FY and set off the same against future LTCG. Will I need to pay income tax on the fund amount if I vest it now? However, if the premiums paid by you exceeded 20% of the capital sum assured, the lump sum received on vesting of the policy shall be taxable.

Source: Mint August 15, 2021 19:07 UTC