TMI BlogTax treatment on Partial WithdrawalX X X X Extracts X X X X X X X X Extracts X X X X ..... Partial withdrawal is a feature/flexibility, offered under ULIPs where in the policyholder can actually withdraw some amount from the policy during the policy term, for his emergency needs or any other need. The policy continues with all the benefits intact. Would like to know: If the withdrawal is done within first 5 policy years, will the amount withdrawn would be taxable or tax free? If the w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ithdrawal is done after first 5 policy years, will the amount withdrawn would be taxable or tax free? - Reply By Surender Gupta - The Reply = That amount shall remain exempt. There is nothing in section 10(10D) to restrict such withdrawal within 5 years. - Reply By GOPALJI AGRAWAL - The Reply = Rahulji, the withdrawals would not be taxable as there is not termination of the plan in terms of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he provisions of section 80C(5)(ii). - Reply By DEV KUMAR KOTHARI - The Reply = One should not expect a full fledged , correct answer, unless all relevant facts are given in the query. As very usual, Mr. Bagaria, has again given incomplete information which cannot be answered and even brain stormed in discussion forum. We cannot contemplate several possible facts to answer a query. - Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... treatment on Partial Withdrawal - Query Started By: - Rahul Bagaria Dated:- 12-10-2010 Income Tax - Got 3 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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