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ULIP maturity whether taxable??

Aisha (Finance Professional) (4860 Points)

22 February 2008  
The income earned from maturity of ULIP whether it is taxable or exempted???

 4 Replies

Anand (481 Points)
Replied 22 February 2008

Exempt

shyam (student) (544 Points)
Replied 22 February 2008

might be exempted
(Guest)
ULIP contains two parts one investement in units and other invested for life insurance. The maturity value of units is to be checked if long term or short term capital gain, then check if STT is paid, and accordingly would be taxable. sanjeev Jain vibcondelhi @ indiatimes.com
(Guest)
permit me for little correction in reply of snajeev jain. that minimum period of holding of ULIP are 5 years so automatically units will become under long term capital gain . so exempt thanks

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