my friend purchaed ULlIP pension plan of annual premium 25000/- in march 2007(fy 2006-07).He surrendered plan in july 2011(fy 2011-12).how much tax on capital gain to be paid and when?Principal amt 125000 in 5 years,surrender value 149499.
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Capital gain tax
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In my opinion every year TDS must have been deducted , and also i clarify one point taxation will be only of interest income under the head the income from other sources and not as capital gain as ULIP is not the capital asset.
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