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Sbilife - smart ulip(tax treatment)

This query is : Resolved 
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(Querist)
02 February 2018 Respected Sir,

I take a policy SBILIFE - Smart ULIP on 31.3.2010 and insurance premium 50000 per year and lock in period 3 years till 31.3.2012. And sum assured after 10 years RS 250000. I have Surrendered policy in f.y 2014-15. I did not taken any deduction u/s 80C any years. I received a notice for income tax department not filing of return for f.y 2014-15 regarding sale of equity share in recognized stock exchange. PLZ guide me what will be tax treatment related ULIP. Which ITR should be file and have salary income from govt department.

I shall be thankful to you
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amit gaur

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amit gaur (Expert)
03 February 2018 Premium of ULIP is deductible u/s 80C just like any other life insurance premium
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