• Zurich life insurance

I have a Zurich insurance Vista child education plan. I wish to redeem the same approx USD 100000.  I have been investing in this plan for more than 15 years. I am a NRI residing in UAE. 

How much income tax do I have to pay.
Where can I transfer this redeem amount (NRI/ NRE OR ordinary account).
Asked 1 year ago in Income Tax from United Arab Emirates
Dear Sir,

If you are non-residenr your income arising out of India will not be taxable in India. Hence, this income should not be taxable in India.

You can transfer this account to NRO/NRE account.

Please feel free to call/revert in case of any doubts

Thanks and Regards
Abhishek Dugar
Abhishek Dugar
CA, Mumbai
2944 Answers
125 Consultations

5.0 on 5.0

Need to check the Policy for its maturity taxability. If it is traditional plan then there is no tax.

After paying tax you can transfer the amount to NRI Account.
Shyam Sunder Modani
CA, Hyderabad
1408 Answers
95 Consultations

5.0 on 5.0

Hello Sir,

Is the amount invested in India or in some other country. Where will you receive the maturity benefits ? In an Indian Bank Account or abroad ?

Please provide the above information in order to help us provide you with proper information.

Feel free to call / get back in case of further clarifications. 

Thanking You. 

Rohit R Sharma
Rohit R Sharma
CA, Mumbai
2104 Answers
91 Consultations

5.0 on 5.0

Ask a Chartered Accountant

Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
  Ask a CA