taxability on withdrawl from ulip

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gaurang ganatra (Querist)
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28 June 2010 is amount received on maturity or withdrawl from ulip plan of max new york after 3 years is taxable?

Shyam Lal Naik (Expert)
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30 June 2010 No. Currently withdrawls does not suffer tax.

There is a proposal to tax withdrawls in the DTC.

CA Ravi Sisodia (Expert)
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30 June 2010 I think 5 year lock-in-period in ULIP. if you withdrawls within 5 years then tax liability will arises.

Shyam Lal Naik (Expert)
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30 June 2010 ULIPs are bascially equity oriented mutual funds. Any accretion after 1 year are LTCG and hence exempt.

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