Taxbility of surrender of ULIP
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 July 2011
What will be the taxality of surrender value of ULIP?
Facts:
1.No deduction of Investment in ULIP is claimed.
2.Funds are Equity oriented funds.
3.Last premium was paid in 2008.
Please Reply Fast.
Facts:
1.No deduction of Investment in ULIP is claimed.
2.Funds are Equity oriented funds.
3.Last premium was paid in 2008.
Please Reply Fast.
16 July 2011
You can consider all the units as long term capital assets.
The capital Gains are exempt U/s 10(38)
The capital Gains are exempt U/s 10(38)
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