This discussion addresses the taxability of a ULIP maturing in the financial year 2024-25, with investments made in 1998 and annual premiums under £250,000. Generally, ULIPs are taxable unless specifically exempted under Section 10(10D) of the Income Tax Act. It's advised to check the specific terms and conditions of your policy for definitive guidance.
16 June 2025
ULIP is mature in the F.Y. 2024-25, amount invested in the year 1998 and premium is less than 250000 per year, whether ULIP is taxable or not???