Hi. I am an NRI and wish to invest in ULIPs. I understand that for resident indians, there is no LTCG on the amount paid out after maturity if the annual premium does not exceed 2.5 lacs as per section 10(10D) of the IT act and there is no TDS on it.
Does the same rule of LTCG apply for NRIs as well? What about TDS? According to section 195, all gains are taxed at least 30% for NRIs.
CAclubindia
