Some of the facts which you don’t know about Budget 21. Here is the list 1. ULIP maturity is TAXABLE. Budget 2021 has proposed not to provide tax exemption under section 10(10D) of Income Tax Act for maturity proceeds of the unit-linked insurance policies (Ulips) with annual premium above ₹2.5 lakh. The rules will apply for Ulips issued on or after 1 February 2021. According to...
Mastering the subject of personal finance might not be everyone’s cup of tea. Luckily, it is not always required to master the intricacies of everything when you can hire professionals who are well versed in the same. Today we are going to take you through the reasons of prime importance to hire your own financial advisor from the very onset. Holistic Analysis Financial consultants can...
Finance Minister in budget 2021 has made the maturity proceeds of the unit-linked insurance policies (Ulips) taxable. However, it will be taxable only if the annual premium is above ₹2.5 lakh. The rules will apply for Ulips issued on or after 1 February 2021. According to the Budget memorandum, “Under the existing provisions of the Income Tax Act, there is no cap on the amount of annual...