banner_ad

UTI ULIP 1971

This query is : Resolved 
Profile Image

Profile Image

(Querist)
16 November 2010 AMOUNT MATURED IN 2009-10. WHETHER TAXABLE OR NOT? IF YES, HOW TO CALCULATE TAX? PLEASE ADVISE..
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
16 November 2010 Relevant portion from the scheme is copied below.
The long term capital gains arising on repurchase of units of the scheme is subject to treatment as indicated under sections 48 and 112 of the Income Tax Act, 1961. Accordingly at present the investor is required to pay tax @ 20% and surcharge thereon on long term capital gains after factoring the benefit of the Cost Inflation Index. Finance Bill 2000, proposes that investor can instead opt to pay tax at the flat rate of 10% and surcharge thereon on such long term capital gains.
N.B;- PL NOTE THAT S.C WAS PREVAILING AT THAT TIME.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details