what is the taxability of proceeds received from ULIP at the time of maturity
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ULIP
Replies (3)
IT IS EXEMPTED....
Dear Ajay
Unit linked insurance plan (ULIP) is life insurance solution that provides for the benefits of risk protection and flexibility in investment. The investment is denoted as units and is represented by the value that it has attained called as Net Asset Value (NAV). The policy value at any time varies according to the value of the underlying assets at the time.
Maturity proceeds received at the time of maturity would always exempt from tax U/s 10(10D)
Regards,
Manoj
exempt from tax U/s 10(10D)
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