Withdrawl from ULIP
This query is : Resolved
Hemanth Khatokar
(Querist)
24 January 2011
Sir,
I would like to know whether Part or full withdrawl of money invested in ULIP is taxable in the year of withdrawl.
I would like to know whether Part or full withdrawl of money invested in ULIP is taxable in the year of withdrawl.
Prof. Bajaj
(Expert)
25 January 2011
Dear Hemanth,
The part or full withdrawal from a ULIP before the maturity date will be taxable in the year of withdrawal.
Please feel free to ask if you have any more questions.
The part or full withdrawal from a ULIP before the maturity date will be taxable in the year of withdrawal.
Please feel free to ask if you have any more questions.
Message likes :
1 times
25 January 2011
Bajaj Ji
What will be the Income tax effect ,if withdrawn after five years of paying contribution. Pl view the situation as a corollary to section 80C (5)(ii) of the Income tax Act,1961.
What will be the Income tax effect ,if withdrawn after five years of paying contribution. Pl view the situation as a corollary to section 80C (5)(ii) of the Income tax Act,1961.
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
- Tax on Amount transferred in HUF Account
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- GST input credit on commercial property
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Intimation under section 245
- ETDS return q4 25-26
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
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
