Withdrawl from ULIP
This query is : Resolved
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.
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 :
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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What will be the Income tax effect ,if withdrawn after five years of paying contribution.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What will be the Income tax effect ,if withdrawn after five years of paying contribution.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.
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