Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

REGARDING TAXABILITY OF MATURITY AMOUNT OF ULIP

Save Share

This query is : Resolved

Quick Summary

Unit Linked Insurance Plans (ULIPs) issued on or before February 1, 2021, have their maturity amounts exempt from tax under Section 10(10D) of the Income Tax Act. This exemption applies regardless of the total premiums paid throughout the policy's duration. Therefore, if your ULIP falls into this category, the maturity proceeds you receive will be tax-free.

Suresh S. Tejwani

Suresh S. Tejwani (Querist)
Follow

19 July 2025 If unit linked insurance policy issued on or before 01/2/2021 and maturity amount is received then whether such amount is exempt under section 10(10D) ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

19 July 2025 Yes.
ULIPs issued on or before February 1, 2021:
All maturity proceeds are tax-free under Section 10(10D) of the Income Tax Act, regardless of the total premiums paid during the policy term.

Message likes : 1 times

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

16 September 2025 Good Luck..

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now