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ULIP maturity whether taxable??

Tax queries 4708 views 4 replies
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Finance Professional
9489 Points Posted on 22 February 2008
The income earned from maturity of ULIP whether it is taxable or exempted???
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On 22 February 2008 at 10:54 Report
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481 Points Posted on 22 February 2008
Exempt
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On 22 February 2008 at 11:03
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student
544 Points Posted on 22 February 2008
might be exempted
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On 22 February 2008 at 13:08
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460480 Points Posted on 23 February 2008
ULIP contains two parts one investement in units and other invested for life insurance. The maturity value of units is to be checked if long term or short term capital gain, then check if STT is paid, and accordingly would be taxable. sanjeev Jain vibcondelhi @ indiatimes.com
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On 23 February 2008 at 09:25
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460480 Points Posted on 08 March 2008
permit me for little correction in reply of snajeev jain. that minimum period of holding of ULIP are 5 years so automatically units will become under long term capital gain . so exempt thanks
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On 08 March 2008 at 00:08


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