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Taxability of Ulip

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(Querist)
23 January 2011 Will Maturity proceeds of ULIP attract tax or not? The investment is made in the year 1995 with UTI.

Thanking you

Ramana
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
24 January 2011 On the maturity of ULIP in your case, no income tax is leviable.
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sivasankar

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sivasankar (Expert)
25 January 2011 Hi,there should be gap of five years between the date of investment and withdrawal.Hence in your case its tax free.enjoy
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