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.
CA PARAS BAFNA
(Expert)
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)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Visiting card purchase
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- GST on reimbursement of expenses
- Number of years as per AS amortisation of Goodwill
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Wrong CMPo8 file
- Additional trade name
- Whether output tax is taken credit by purchaser
- Equity Share Sale and Purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
