taxability on withdrawl from ulip
This query is : Resolved
28 June 2010
is amount received on maturity or withdrawl from ulip plan of max new york after 3 years is taxable?
30 June 2010
No. Currently withdrawls does not suffer tax.
There is a proposal to tax withdrawls in the DTC.
There is a proposal to tax withdrawls in the DTC.
30 June 2010
I think 5 year lock-in-period in ULIP. if you withdrawls within 5 years then tax liability will arises.
30 June 2010
ULIPs are bascially equity oriented mutual funds. Any accretion after 1 year are LTCG and hence exempt.
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