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Ulip policy

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(Querist)
02 August 2011 what exactly is ULIP policy??? Do we get its deduction u/s 80c??? and whether its maturity value or surrender value is taxable?
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CA Chandresh Agrawal

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CA Chandresh Agrawal (Expert)
03 August 2011 its an insurance policy linked with unit (i.e. no of unit of particular fund) it is eligible for 80c deduction and its surrender value or maturity value is tax free.
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Tanvi

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Tanvi (Querist)
03 August 2011 ok...thank you sir
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