Hi,
i want to invest some amount above 2.5Lac in ULIP my question....
LTCG and Tax on Insurance policy where amount above 2.5Lac and insurance cover 7Time
what will be taxable
as Income
or LTCG only
regards
LTCG and Tax on Insurance policy where amount above 2.5Lac and insurance cover 7Time
Replies (1)
Since your annual premium exceeds ₹2.5 Lakh, the maturity proceeds will be taxable as Long-Term Capital Gains (LTCG) at a rate of 12.5% on gains exceeding ₹1.25 Lakh, provided the policy is held for more than 12 months.
Recent Topics :
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
Related Topics :
CAclubindia
