Income Tax on ULIP Maturity
10 months ago
I purchased ULIP plan of SBI Life (No insurance) on 06 March 2007 with yearly premium Rs 60000 which was matured on 06 March 2022 with a fund value of Rs 2478000.I bought annuity of whole amount and getting monthly annuity of Rs 11907.What is tax liability on Fund value I.e Rs 2478000
A.Dear Sir,
This matter is purely related to financial and income tax as such it is better to consult any auditor or chartered accountant.
This matter is purely related to financial and income tax as such it is better to consult any auditor or chartered accountant.
Helpful
Helpful
Share
Read Related Answers
Crypto Trades
Dear Client,
The existence of the Double Taxation Avoidance Agreement (DTAA) between India and the United Arab Emirates (UAE) plays an important role in their economic relationship.By eliminating the...
Income Tax threshold for tax free pension
Dear Client,
Income Tax related issues are well addressed by a Chartered Accountant or an Income Tax Practitioner who possesses expertise and in-depth knowledge on the subject, So, you are requested t...
What should I opt Old Regime vs New Regime
Dear sir
You have to consult service advocate or a person who is expert in such subject otherwise you may be mislead.
Exemption on interest education loan
Dear Client,
Under Section 80E of the Income Tax Act, 1961, if an individual has taken an education loan and is repaying the same, then the interest paid on that loan is allowed as a deduction from hi...
Tax query
Dear Client,
Based on the limited facts you have stated, Take an assumption regarding the calculation of income tax in a financial year of your transaction where the amount is X from which 98% of X...
Read Blogs on Tax-Income Tax
Tax-Income Tax Lawyers
Find Lawyers by Location