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ulip surrender
is that ulip plan surrender amount is taxble
Replies (3)
Not always. More details about the scheme is required for exact solution.
As a thumb rule, if TDS has been deducted over the surrender value, take it as taxable.
it all depends upon the type of ULIP plan. Have you taken ULIP premium benefit under 80C then in that case if surrenderd before 5 years it's taxable
If surrendered before completion of 5 years than amount received less amount claimed as exempt under Chapter VIA is taxable.
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