Tax on ulip
This query is : Resolved
04 June 2018
I have surrendered a ULIP but they have deducted TDS. Which means I need to pay tax according to my tax slab(30%).
Let us say I have paid total Premium 3 Lakhs and Surrender Value is 4 Lakhs. I have to pay Tax on 4 Lakhs or 1 Lakh (= 4 lakhs - 3 Lakhs).
Let us say I have paid total Premium 3 Lakhs and Surrender Value is 4 Lakhs. I have to pay Tax on 4 Lakhs or 1 Lakh (= 4 lakhs - 3 Lakhs).
05 June 2018
only the difference is taxed....
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