ulip

5 Tax saving investments with wealth creation for salaried person

Income Tax - Explore the best tax-saving investment options in India, including PPF, NPS, ULIPs, ELSS, and Tax Saving Fixed Deposits. Learn how these options offer financial security and deductions under Section 80C....

All About Taxation of Life Insurance Policies, ULIP & Keyman Policy

Income Tax - Navigate the complex tax implications of life insurance policies, ULIPs, and Keyman policies. Uncover the latest changes introduced by the Finance Act, 2023. Explore the tax status of normal life insurance policies, ULIPs, and Keyman insurance policies, ensuring you make informed financial decisions. From premium limits to TDS considerati...

5 Reasons Why ULIPs Are Helpful for Long-term Savings

Income Tax - In simple words, Unit Linked Insurance Plan (ULIP) is a type of life insurance that offers dual benefits of insurance protection and wealth building. When you buy ULIP, like the standard insurance plan, you pay the premium periodically till the end of the policy tenure....

What is ULIP & How to Maximise Returns? Five Tips for Successful Investment

Income Tax - As individuals, one of our most important financial responsibilities is to grow our wealth. In order to grow wealth, it is important to make smart financial decisions. ...

Confused between a ULIP and a SIP? Here’s a comparison!

Income Tax - When it comes to products that can assist investors in meeting their long-term and short-term financial objectives, two of the most popular options are ULIP and SIP....

IRDA – Calling applications for Offline Agents Training Institutes

Income Tax - IRDA has twin objectives of development of the industry as well as protection of the policyholder. Both the objectives are interlinked and unless the policyholders' interests are protected the industry cannot achieve the required penetration. The policyholder protection acquires much more significance for IRDA as the rural population is e...

LIC launches Samridhi Plus under Ulip portfolio

Income Tax - Life Insurance Corporation of India today launched 'Samridhi Plus' under its unit linked portfolio offering insurance protection, safety and growth. Samridhi Plus safeguards policyholders' investment from market fluctuations, LIC said in a statement here. ...

DTC: LIC wants tax breaks on policies primarily used for investment rather than protection retained

Income Tax - The Life Insurance Corporation of India has made a strong case for continuing tax breaks on life insurance policies bought with an investment objective. Referring to the Direct Tax Code proposal that extends tax-breaks to only those policies that have a sum insured of at least 20 times the premium paid, LIC chairman TS Vijayan said the im...

FM Addresses Global Insurance Summit at Mumbai

Income Tax - Union Finance Minister, Shri Pranab Mukherjee has asked the insurance companies to create awareness among the poor and vulnerable section of the society especially the people living in rural areas so that they can avail the benefits of financial services. He further said that they may be informed about the benefits of the life insurance a...

DTC : Annual deduction raised to Rs. 1.5 lakh

Income Tax - Under the DTC Bill, the annual deduction has been raised to Rs. 1.5 lakh. From the bill It appears that investments in PPF, PF, NPS, pure life insurance policies, savings schemes as notified by the government are eligible for this deduction under EEE category....

Unit Linked Insurance Plan (ULIP) redemption taxable as capital gain

Subhash Tandon Vs ITO (ITAT Delhi) - Explore a detailed analysis of ITAT Delhi ruling on Subhash Tandon Vs ITO, which sheds light on taxability of ULIP redemption as capital gains....

IRDA – Calling applications for Offline Agents Training Institutes

NA - (08/12/2011) - IRDA has twin objectives of development of the industry as well as protection of the policyholder. Both the objectives are interlinked and unless the policyholders' interests are protected the industry cannot achieve the required penetration. The policyholder protection acquires much more significan...

Insurance- Group Products under Linked platform – Compliance with recent Circulars and Regulation on Unit Linked Products (ULIPs)

CIRCULAR NO. IRDA/ACTL/ULIP/124(2)/10/2010, - (27/10/2010) - CIRCULAR NO. IRDA/ACTL/ULIP/124(2)/10/2010, DATED 27-10-2010 This has reference to the following circulars & regulation issued by the Authority: 1. IRDA/ACT/CIR/ULIP/102/06/2010, dated June 28, 2010 2. IRDA/Actl/Cir/ULIP/124/08/2010, dated 4th August, 2010 3. IRDA (Treatment of discontinued Link...

IRDA suspends sale of universal life policies and will not allow sale of single-premium products under ULIPs

NA - (24/10/2010) - The Insurance Regulatory and Development Authority (Irda) has suspended sale of universal life policies, which were being promoted as an alternative to unit-linked insurance plans, from October 23. Sales have been suspended until the final guideline...

LIC launches Endowment Plus Policy- ULIP plan under the new IRDA regime

NA - (23/09/2010) - Life Insurance Corporation of India has introduced its ULIP plan under the new IRDA regime, following the launch of its Pension Plus which is the first Unit-linked Pension Plan under the new regime.Endowment Plus is LIC’s 14th plan approved and the C...

New ULIP norms applicable from 1st September 2010 are beneficial for policyholders

NA - (31/08/2010) - The new rules of the Insurance Regulatory and Development Authority (Irda) take effect from September 1. Ulips, which contributed 80 per cent of the total premium collected by private companies, will see a dramatic change. Irda has capped the difference between net and gross yields during the policy...

Recent Posts in "ulip"

5 Tax saving investments with wealth creation for salaried person

Explore the best tax-saving investment options in India, including PPF, NPS, ULIPs, ELSS, and Tax Saving Fixed Deposits. Learn how these options offer financial security and deductions under Section 80C....

Posted Under: Income Tax |

Unit Linked Insurance Plan (ULIP) redemption taxable as capital gain

Subhash Tandon Vs ITO (ITAT Delhi)

Explore a detailed analysis of ITAT Delhi ruling on Subhash Tandon Vs ITO, which sheds light on taxability of ULIP redemption as capital gains....

All About Taxation of Life Insurance Policies, ULIP & Keyman Policy

Navigate the complex tax implications of life insurance policies, ULIPs, and Keyman policies. Uncover the latest changes introduced by the Finance Act, 2023. Explore the tax status of normal life insurance policies, ULIPs, and Keyman insurance policies, ensuring you make informed financial decisions. From premium limits to TDS considerati...

Posted Under: Income Tax |

5 Reasons Why ULIPs Are Helpful for Long-term Savings

In simple words, Unit Linked Insurance Plan (ULIP) is a type of life insurance that offers dual benefits of insurance protection and wealth building. When you buy ULIP, like the standard insurance plan, you pay the premium periodically till the end of the policy tenure....

Posted Under: Income Tax |

What is ULIP & How to Maximise Returns? Five Tips for Successful Investment

As individuals, one of our most important financial responsibilities is to grow our wealth. In order to grow wealth, it is important to make smart financial decisions. ...

Posted Under: Income Tax |

Confused between a ULIP and a SIP? Here’s a comparison!

When it comes to products that can assist investors in meeting their long-term and short-term financial objectives, two of the most popular options are ULIP and SIP....

Posted Under: Income Tax |

Here’s how you maximise returns in ULIP

Read our blog to learn what are ULIPs how to maximise your ULIP returns and the Advantages of Investing in ULIPs....

Posted Under: Income Tax |

Save Taxes the Right Way (Invest+Tax Savings)

It’s that time of the year when you need to invest in different investment products to enable tax savings for FY 2021-22 OR else regret after March that you did not utilize the benefit of various deductions available for you Now a days, nobody wants to invest just for Tax savings, everybody wants such investment […]...

Posted Under: Income Tax | ,

Taxation of ULIP (on or after 1st February 2021)

Finance Act 2021 has amended provisions of the Income Tax Act 1961 (Act) in relation to taxation of Unit linked insurance premium (ULIP) paid and amount received on or after 1st February 2021. We are discussing herewith changes in section 10(10D) and 45(1B) of the Income Tax Act along with latest notification issued in relation […]...

Posted Under: Income Tax | ,

Life insurance and income tax laws

Indian income tax laws provide for certain tax benefits in respect of life insurance premium paid on life insurance policies as well as for money received from insurance companies in respect of such insurance policies. Let us discuss these provisions. Tax benefit in respect of premium paid for life insurance policies As per Section 80C [&...

Posted Under: Income Tax |

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