Categories
Pagination Scroll
Vani

Exempt ULIP maturity U/s 10(10 D)...
Hi Amlan,
For Maturity proceeds of ULIP which I need to show under exempted income I would like to know if we should show the complete sum received at maturity OR sum received minus total premium paid. Here I look at premium paid as an investment versus an expense. I have seen your video and as pe...
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
You will show the total Unit linked insurance plan sum received at maturity exempt under 10(10 D)...this is the treatment , i will not complicate further ...say you receive 100 Rs at maturity and say paid 60 Rs premium , you will still show 100 Rs as exempt under section 10(10 D) ....Note : this is ...
  • July 26, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Om prakash kalla

Exempt ULIP maturity U/s 10(10 D)...
Hello Amlan sir....I took an SBI ULIP insurance after march 2012...and in Dec 2017 I surrendered my policy .... after 5 years completed + premium was = 10% of sum assured....so I am full filling all condition of non taxable surrender value.....but they deducted 1% TDS when I got money in my account....
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
Ask your insurer the exact reason as to why they deducted TDS ...they shouldn't have .....it is exempt under 10(!0D) given that the policy was after 2012 and the conditions are met (premium as a percent of sum assured) ...you will mention whatever value you have received from the insurance on maturi...
  • July 16, 2018
  • ·
  • Like
  • ·
  • Select as Answer
suresh

Exempt ULIP maturity U/s 10(10 D)...
I took LIC Wealth plus T.No 801 (ULIP based) 1,92,000 - single premium paid on march 2010 Sum assured 250000 I have other policies that cover RS 1,00,000 for the year 2009-2010 under section 80C
I didn't claim Rs 1,92,000 under 80C in 2009-2010. It is a tax paid amount.
I got Rs 255000 on august 201...
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
The entire amount paid /credited under this policy ( not just gains ) plus any benefit (if taken under 80 c) has to be offered for income ...in your case, no benefit was taken for 80 c ...so simply offer amount received under income from other sources ...other policies etc are insignificant to the U...
  • June 27, 2018
  • ·
  • Like
  • ·
  • Select as Answer