Long Term Capital gains on ULIP 71

SHIRISH S S (Proprietor) (1016 Points)

09 June 2023  

I  redeemed ULIP regular 10 year planon 14/12/2022.  I paid Rs 5000 premium for 10 Years from 1/10/97 to  1/10/2006 (10 premiums) for sum assured of 50k. 

a) My cost of Acquisition is 50298.86 

b) Value on Redemption  Rs 367224.26

c) Actual money received in bank 363525.80

My Query is

1) Whether ULIP 71 is exempted  from capital gains tax . If yes under what section.

2) If NO than at what rate and  whether inflation index is to be applied. 

3) Cost on 31/01/2018 is not given in statement of redemption nor ISIN number is there. 

4) 1% IS DEDUCTED BY UTI for what?