ulip surrender

22 August 2019

is that ulip plan surrender amount is taxble

Reply
Follow
Share

3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (180116 Points)
Replied 22 August 2019

Not always. More details about the scheme is required for exact solution.

As a thumb rule, if TDS has been deducted over the surrender value, take it as taxable.

Kapadia Pravin (17259 Points)
Replied 22 August 2019

it all depends upon the type of ULIP plan. Have you taken ULIP premium benefit under 80C then in that case if surrenderd before 5 years it's taxable

@VaibhavJ (Believe!! Live your dreams!) (33516 Points)
Replied 22 August 2019

If surrendered before completion of 5 years than amount received less amount claimed as exempt under Chapter VIA is taxable.

Start a New Discussion