{"id":26650,"date":"2022-04-28T20:33:47","date_gmt":"2022-04-28T15:03:47","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=26650"},"modified":"2022-05-06T05:26:59","modified_gmt":"2022-05-05T23:56:59","slug":"taxability-of-redemption-of-ulip","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/taxability-of-redemption-of-ulip\/","title":{"rendered":"Taxability of redemption of ULIP"},"content":{"rendered":"<p>An NRI has never filed any return in india as he was not having any taxable income in india.\u00a0 In the year Nov 2011, he has paid a sum of Rs. 5 Lacks as Premium on ULIP policy being Single premium policy on sum assured of Rs. 6.25 lacks but as he has not filed any income tax return, no 80C was claimed.\u00a0 In year 2017-18, said NRI has received Rs. 9.75 being maturity proceeds to said ULIP policy and Insurer has also deducted tds of 1% on maturity proceeds.<\/p>\n<p>The question is Whether the sale proceeds received by NRI on Single premium ULIP policy taxable in india or exempt.\u00a0 If it is taxable, how to calculate capital gain and what % tax will be applicable, whether indexation benefits available etc.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[578,572],"class_list":["post-26650","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-premium-on-ulip-policy","qa_tag-taxability-of-redemption-of-ulip"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/26650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=26650"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=26650"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=26650"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=26650"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=26650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}