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Maturity of ULIP

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02 June 2010 Whether amount received on maturity of ULIP including bonus is taxable? If yes, under which head of Income?
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CA Ravi Kumar Murugesh

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CA Ravi Kumar Murugesh (Expert)
02 June 2010 No, the maturity proceeds of ULIP scheme are exempt from tax under Section 10(33).
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CA Koustubh Vishnu Bhatye

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CA Koustubh Vishnu Bhatye (Querist)
02 June 2010 Thanks very much.
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