Withdrawal from ULIP
This query is : Resolved
25 January 2011
Dear Collegues,
Please let me know, if i will withdraw from ULIP after paying its premium for 3 years, will there be any tax liability under Income Tax Act, 1961 ?
Minimum policy payment period is 3 years in my case.
Even what if i will stop paying premium from 3rd year onwards and get it withdrawn on completion on 5th Year.
Please guide in this matter.
Regards,
CA Samir Makwana
Please let me know, if i will withdraw from ULIP after paying its premium for 3 years, will there be any tax liability under Income Tax Act, 1961 ?
Minimum policy payment period is 3 years in my case.
Even what if i will stop paying premium from 3rd year onwards and get it withdrawn on completion on 5th Year.
Please guide in this matter.
Regards,
CA Samir Makwana
25 January 2011
Withdrawal from ulip, before 5 years is taxable.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Filing of Form 10BB instead of Filing Form 10B
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
