News From Press Three questions you may still have related to new rule around Ulip taxation

Three questions you may still have related to new rule around Ulip taxation

The gains from Ulips are not exempted under Section 10(10D) in case the sum assured is less than10 times the annual insurance premium of the policy

Mint Feb 13, 2021

The Budget 2021 has proposed to tax gains arising from Unit Linked Insurance Plans (Ulips) under certain conditions. Ulips are investment products which also offer life insurance. This change has been proposed to bring the taxation of Ulips at par with that of mutual funds. Currently, the gains from Ulips are not exempt under Section 10(10D) in case the sum assured is less than10 times the annual insurance premium of the policy.

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