hi friends
i have a query regarding ulip bonus units.
i want 2 know whether the bonus units allotted in ULIP sheme is taxable or not on maturity.
if yes, under which section and by which rate.
pls rply soon
madhur gupta
(student/article )
(1022 Points)
Replied 02 August 2008
yes it is taxable as normal capital gain
cost of bonus units will be nil
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