I invested in ULIP single premium of Bajaj Allienz (1.04.2005) on 1 Lac and got the sum assured Rs 5 Lac. Subsequently invested in Top up Rs 5 lac on that. All sum was invested in Equity oriented fund . After three years now the fund value is Rs Rs 8 lac ( on 15.12.2009)
Whether Surrender Of ULIP Before Maturity Date Make You Liable For Tax?
August 17, 2008 by
Can you please clarify what taxes will be in the following cases. I paid a premium of Rs.30,000 per year for two years in a ULIP. I used these premiums for claiming deductions under Section 80C. If I surrender this policy after two years, do I have to pay any taxes on the gains at...
Be Ready To Pay Tax On Surrender of ULIP or Pension Plan !
July 14, 2008 by
I had some Life Insurance Policies with SBI Life ( i)Under their Unit Linked Scheme (ii) Pension Scheme.After continuing for 3 years,I had to surrender the above policies as I needed money. Kindly advise me whether whether surrender value will be be added to current year’s income and taxable? whether the value of the Units/...
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