Proceeds received from ULIP_TDS deducted under section 194DA

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If you've received proceeds from a Unit Linked Insurance Plan (ULIP) purchased in 2016, and Tax Deducted at Source (TDS) has been applied under section 194DA, you need to determine how to declare this income. Generally, if the ULIP doesn't qualify for the exemption under section 10(10D), these proceeds should be treated as Income from Capital Gains.

Piyush

Piyush (Querist)
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07 September 2025 Assessee has received Proceeds from ULIP (does not have ISIN) Purchased in 2016. TDS has been deducted u/s 194DA.

Whether the same to be treated under Income from Capital gain or Income from other Sources.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 September 2025 The proceeds received from a ULIP purchased in 2016, on which TDS has been deducted under section 194DA, are to be treated as Income from Capital Gains if the policy does not meet the exemption criteria under section 10(10D).

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 September 2025 Good Luck..

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