Taxation on ulip if not aligible for 10(10d)

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21 Points Posted on 13 August 2019

Respected Sir,

Please guide me on following.

NRI Invested 10 Lakh in single premium ULIP providing 12.50 Lakh insurance cover. in 2011.

When I encashed policy in November 2018 maturity is 1170773 and TDS deducted on whole maturity procedes 365281.

Now i need to pay tax on whole maturity amount ie. 1170773 or on gain 170773 ?

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On 13 August 2019 at 17:25 Report
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17269 Points Posted on 13 August 2019
Get detailed break up of policy. Original 10 lakhs Wii not be taxable
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On 13 August 2019 at 20:30

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