TMI BlogCapital Gain on maturity amount of ULIP - Section 45(1B)X X X X Extracts X X X X X X X X Extracts X X X X ..... the fourth and fifth proviso there of In case of ULIP , When the premium payable for any of the year during the tenure of the ULIP either exceed 10% of the sum assured or the annual premium is more than ₹ 2,50,000 (Policies issued on or after 01.04.2021), then the whole amount received whether as maturity proceeds or survival benefit or surrender value is taxable under the head Capital Gain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... time or subsequently, the capital gain shall be computed with formula C-D C = Consideration amount received for the first time under ULIP as referred under clause (a) above including any bonus amount excluding the amount that has already been considered for calculation of taxable amount under this sub-rule during the earlier PY or years; and D = aggregate of the premium paid during the term of UL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... u/s 111A , and Long Term Capital Gain if 12 months taxable @10% u/s 112A in case if gain excess of ₹ 1 lakh. Debt Oriented ULIP Short Term Capital Gain if 36 months taxable at individual slab rate Long-Term Capital Gain if 36 months taxable @ 20% u/s 112 with indexation benefit. Guidelines issue under circular no. 2 of 2022 dated 19th January 2022 regarding section 10(10D) of the Income-tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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