Capital Gain on maturity amount of ULIP - Section 45(1B)

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..... ility of 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 & .....

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..... ' b. Where the amount is received for second 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 = a .....

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..... #8203;​​​​ Short Term Capital Gain if < 12 month taxable @ 15% 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. * Gu .....

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