Also note that in the case of a ULIP, unlike a term insurance, you are also charged an amount for receiving the services of fund managers who decide where to invest your money to generate the best possible returns within the broad category of investment avenues that you’ve allowed them to operate in. If you start investing early in ULIP, then even with an investment of upto 2.5 Lacs every year, you can generate a tax-free income running in several Crores. Happy investing! P.S. Like all other investments in the market, even the amount invested through a ULIP can go down also as investments in the market are subject to market risk. Invest as per your own risk-appetite. Correction:- The fourth and fifth proviso to Section 10(10D) is applicable for policies purchased on or after 1/2/21 and not 1/4/21.
My mind tends to remember everything mathematically by learning the logic behind things.. I bet now I won't need to worry 😟 mugging up the % and sum limits 'cause you explained the logic so well. Thank you Sahil Sir. 😁
Being from Pakistan. I am one of your oldest viewers when u had 22.5k subs. I had watched your every video and because of you I have become interested in learning the tax system of Pakistan. Thanks sir ❤️❤️❤️
@RAKESH BC-20-041 yes big 4 firms operate in Pakistan and stipend rate is 14,500 fixed by ICAP. And gradually increase as you start clearing the final 8 papers during you articleship.
@RAKESH BC-20-041 nahi bro 2000 wala scene jab Acca induct hota Hai firm tab uski starting hoti hai. Jo CA karke aaata Hai usko at least 7-8 hazar firm deti Hai, jabke 14000 ICAP provide karti Hai.
Sir phle mujhe itna interest nhi tha tax me but jb se mene aapke videos dekhna start kiya specially case base wale videos... I love taxation more than more... Please Sir aise hi videos upload krte rhna...and I will definitely share videos with my all friends... Thank You ❤️😊
Yes. My parents took ULIP (balanced) and it gave only 2.5% returns in 5 years when yhe market is rallied so aggressively. Never go for ULIP. Equity mutual fund + term insurance combo is way more profitable.
Hey man day before I was puzzled with this prov why govt is giving deduction only upto the limits... And I was searching here and there for it.... But next day I see your notification ✌ and my doubt is solved now... It's like a gift for me without asking you for it 😂
Sir you are smart , intelligent , man with a great acumen , great personality, style of spea king and altogether a complete package, don't know about others but atleast from my eyes , my opinion and my observation. Learning many things from you sir 😃 😊
Sir this is way too informative.I never thought I would understand something in onehearing.Tgank you so much sir.Now I just need consistent application of this section under various cases so I can remember for longer period
I'm an engineer by profession but I find your videos so much informative I watch them many in the row! Not to mention your soft voice is very soothing :) I'm disappointed with our Indian education system which leaves out such valuable and practical information from the curriculum. But thanks to you, people like me can have them for free. Keep up the good work. God bless you 🙏😇
But the returns generated on endowment policies are so low that it doesn't even beat inflation. From this pov, endowment policies are not so attractive. But yes if the sole purpose is tax planning then it's reliable.
And that's the point. Government doesn't want you "earning" through policies. We expect a return from policies because we see the same as an "investment" and not as an "insurance". That's why government set it up in a way that only people who want to get insured obtain the benefit of the same. If you want better returns, find an actual source of investment, not the insurance
AGAIN AND AGAIN YOU PROVE YOUR SELF WITH GIVING PRACTICAL CONTENT. UNIQ CHANNEL, I HAVE NOT SEEN SUCH TH-cam CHANNEL WHICH GIVES THESE MUCH REAL CONTENT AND GIVES EXPOSURE TO DIFFERENT TAX EVASION PLANNING AND MONEY SCAMS.
ULIPs are not considered as a good investment strategy. Very high cost and poor returns are usually the case with ULIPs. Not a good product to invest into. It's far better to pay long term capital gain tax of 10% on your profits rather than choosing a substandard product like ULIP
If I buy a stock or mutual fund units & hold it for more than 1 year wouldn't I have to pay LTCG tax i.e. only 10% which is same as discussed here. So, why to go through such a process of buying ULIPs to save tax ?
Sir as usual highly informative & useful and helps us to learn new things. Thank you very much sir and hope you will continue the same of sharing this knowledge with us.
Such a great teacher 😍 Give us pracatical knowledge for our future😍 I got sir utb channel just 2 days ago and now when i am free from my classes i m watching sirs every videos
Thank You Sir Your's Lectures are Precious One Because It's all about the Experience. It takes Much More Time or Unknown For a Long. In my Case as Accountant. Didn't know Hidden ( Tax Evasion) things. As well as in other case If I Eager know those things available Only with a Prescribed Limit Didn't Above My Qualification For This Am So Thankful to Yours Lecture as gave a Years of Experience within a Minute . Thank You So Much Sir.😂
A question on tax saving on ULIP: If we invest via ULIP, 10% of the complete investment amount goes towards premium. Whereas, if we invest in equity(mutual funds or direct), we will be taxed 10% LTCG only on the profit(not on the whole investment amount) Then how is ULIP better? Maybe I am missing something here?
Excellent yaar... 👍 , But h'khor people will still do it buy doing it in the name of different family members... But still, good step by govt and extraordinarily explained by you .. 🙏🏽
Never mix insurance with investments and you will be fine. We don't buy an insurance policy to save taxes, we buy it to secure our family in case something bad happens. For that you need at least 10 times your annual income. In order to achieve this from an ULIP, the premium would be very very high in fixed installments. Why would I do that? Take a term plan PURELY for insurance purpose and invest the rest in equity mutual funds or direct equity, which anyway the ULIP guys do.
does the premium that we pay annually , say 2 lakh annualy is that also a deduction in taxable income? and if yes then is it included in 80c or is it extra slab
First condition that premium should exceeds 10% (15%) of sum assured is stated in I T Law. Second contion that agrregate premium less than 2.5 lakh in a year is not shown . I am confused.
I have a practical based query of gst irrelevant from the above video but hope that u would help Last month vehicle of mine was stop by authority and they raise a demand of tax and 100%penalty of tax amount. I deposited the said demand on the very same day . Cash legder history is reflecting amount deposited and set off against the demand order I'd. Question is whether should The invoices be shown in gstr 1 of which demand is paid . And if yes then gstr 3b will generate tax liability on the base of gstr 1 Cash ledger balance is nil as it is setoff against the demand Or will I have to pay the tax again on the same goods .
I am wondering what is someone starts a new ULIP every year. So, let's say, I take a ULIP in 2021-22 with 5 years of premium payment (let's assume of INR 1 Lakh). Again, in 2022-23, I take another ULIP with 5 years of premium payment. However, in 2022-23, I will be paying INR 2L for 2 ULIPs. Since their maturity falls on separate financial years, will they become tax exempt?
Sirji....if I am paying premium more than 2.5 lakhs...but the policy will mature after 15 to 20 years....how will the government track...20 years back...to find out as to how much premium did I really pay and whether the sum was greater than...2.5 lakhs...does the government really track data before 15 to 20 years.... please clear my doubt 🙏🙏
Sir in this the 2.5 Lac is af all the investments in an year or only Insurance Policy, and also will it be calculated as total received to a nominee or total invested by the person investing, as It can be the case that two parents of anyone are dead in any mishappening and both have investments less than 2.5Lac but total is more than 2.5 Lac
Also note that in the case of a ULIP, unlike a term insurance, you are also charged an amount for receiving the services of fund managers who decide where to invest your money to generate the best possible returns within the broad category of investment avenues that you’ve allowed them to operate in.
If you start investing early in ULIP, then even with an investment of upto 2.5 Lacs every year, you can generate a tax-free income running in several Crores. Happy investing!
P.S. Like all other investments in the market, even the amount invested through a ULIP can go down also as investments in the market are subject to market risk. Invest as per your own risk-appetite.
Correction:- The fourth and fifth proviso to Section 10(10D) is applicable for policies purchased on or after 1/2/21 and not 1/4/21.
To ulip kha se milnge how to purchase
ULIP means?
How to purchase ..please make video on it
Samajne ka junoon aur samjhane wala chhaie 💯 lines 👍🙏
Is the 2.5L cap applicable even if the ULIP was initiated before April 2021?
The premium being less than or equal to 10% of capital sum assured!
There’s actual smoke coming out of my head.. no one else could’ve explained it like this.. Maza agya!
i am not CA student nor a CS student but your videos are so full of highly useful content that i don't miss even a single video. thank you so much sir
My mind tends to remember everything mathematically by learning the logic behind things.. I bet now I won't need to worry 😟 mugging up the % and sum limits 'cause you explained the logic so well. Thank you Sahil Sir. 😁
Rich people be like: Zor zor se bol k scheme bata de sbko.. !!
Rich ka, Poor ka, sabka raaz kholega tera Faizal
Website mein hai
@@TaxationWithCASahilJain Sir LIC ka agency le lo na i am development officer aap logoka tax saving kariye humare ULIP plan se
@@TaxationWithCASahilJain 🍷😆😆 Ye bhi sahi hai..
Bole tho ek dham Jackaas! 🤓👍
The style of explanation, the to-the-point elaboration, the hard work behind all slides: just WOW!! hats off Sahil ji
Being from Pakistan. I am one of your oldest viewers when u had 22.5k subs. I had watched your every video and because of you I have become interested in learning the tax system of Pakistan. Thanks sir ❤️❤️❤️
@RAKESH BC-20-041 yes big 4 firms operate in Pakistan and stipend rate is 14,500 fixed by ICAP. And gradually increase as you start clearing the final 8 papers during you articleship.
@RAKESH BC-20-041 nahi bro 2000 wala scene jab Acca induct hota Hai firm tab uski starting hoti hai. Jo CA karke aaata Hai usko at least 7-8 hazar firm deti Hai, jabke 14000 ICAP provide karti Hai.
@@NisarKhan-yr3px currency difference bhi to hai
@@rohitmewara9412 yes bro difference Hai INR strong currency Hai PKR se, ajj hi petrol 137 ruppe ka hogaya Hai.
@RAKESH BC-20-041
🤣🤣🤣🤣
Bhai Bhai
Stipend made really laugh
Sir phle mujhe itna interest nhi tha tax me but jb se mene aapke videos dekhna start kiya specially case base wale videos... I love taxation more than more... Please Sir aise hi videos upload krte rhna...and I will definitely share videos with my all friends... Thank You ❤️😊
I think ULIPs are the worst invention in financial products. It serves neither of the purpose, keeping in mind the expenses they charge
Yes. My parents took ULIP (balanced) and it gave only 2.5% returns in 5 years when yhe market is rallied so aggressively. Never go for ULIP. Equity mutual fund + term insurance combo is way more profitable.
Return plus insurance is never a good product. Neither you get good returns nor you get good insurance cover.
Hey man day before I was puzzled with this prov why govt is giving deduction only upto the limits... And I was searching here and there for it.... But next day I see your notification ✌ and my doubt is solved now...
It's like a gift for me without asking you for it 😂
I HAVE NOTICED A COMMON THING IN ALL YOUR VIDEOS THAT YOU DRESS VERY WELL 👌🏻
Ur killer smile in tax planning have no words sir....
Awesome Explanation sir...Now I got to know the logic for this and how the rich used to save tax from this ...Thank you Sahil Sir
Really knowledgeable videos Sir.... Please keep doing such a great service to Indians 🙏🏼
Sir you are smart , intelligent , man with a great acumen , great personality, style of spea king and altogether a complete package, don't know about others but atleast from my eyes , my opinion and my observation. Learning many things from you sir 😃 😊
Sir this is way too informative.I never thought I would understand something in onehearing.Tgank you so much sir.Now I just need consistent application of this section under various cases so I can remember for longer period
Superb clarity of thoughts and even better explanation of concepts. Keep it up!
I am an software engineer & I can say I fall in love with Charted Accountancy
This "Haanji, Good evening" having a separate fan base😍😂
I'm an engineer by profession but I find your videos so much informative I watch them many in the row! Not to mention your soft voice is very soothing :) I'm disappointed with our Indian education system which leaves out such valuable and practical information from the curriculum. But thanks to you, people like me can have them for free. Keep up the good work. God bless you 🙏😇
I don't have words sir just amazing you are the one who brings us to the practical world of taxation
thank you sir awesome
In simple Words,
Sir, U are Unique❣️💯
Grateful, We are knowing, there are such a multiple ways of tax reduction by your unique teaching skills
Great Video sir. Very informative. Please keep covering DT sections with real life examples like this.
Sir aap aise aise topics laate ho hi chah k b video skip ni kr skte😅
But the returns generated on endowment policies are so low that it doesn't even beat inflation.
From this pov, endowment policies are not so attractive. But yes if the sole purpose is tax planning then it's reliable.
And that's the point. Government doesn't want you "earning" through policies. We expect a return from policies because we see the same as an "investment" and not as an "insurance".
That's why government set it up in a way that only people who want to get insured obtain the benefit of the same.
If you want better returns, find an actual source of investment, not the insurance
Yes. Term insurance for "Insurance", and "Investment" for returns.
Better invest in equity mutual funds and purchase a seperate term insurance plan.
AGAIN AND AGAIN YOU PROVE YOUR SELF WITH GIVING PRACTICAL CONTENT. UNIQ CHANNEL, I HAVE NOT SEEN SUCH TH-cam CHANNEL WHICH GIVES THESE MUCH REAL CONTENT AND GIVES EXPOSURE TO DIFFERENT TAX EVASION PLANNING AND MONEY SCAMS.
ULIPs are not considered as a good investment strategy. Very high cost and poor returns are usually the case with ULIPs. Not a good product to invest into. It's far better to pay long term capital gain tax of 10% on your profits rather than choosing a substandard product like ULIP
If I buy a stock or mutual fund units & hold it for more than 1 year wouldn't I have to pay LTCG tax i.e. only 10% which is same as discussed here. So, why to go through such a process of buying ULIPs to save tax ?
0% Tax (Section 10(10 d)) ... not 10% also.
Question......The given condition of 10% and 2.5 lakh has to be complied every year.
Sir as usual highly informative & useful and helps us to learn new things. Thank you very much sir and hope you will continue the same of sharing this knowledge with us.
Please try to leave a short summary note of each video in pdf format so that we can analyse.
Sir before this video, I don't know what is a ulip and always try to learn through rattafication, now I'm clear
Thank u so much sir 🙏
Sir please make videos on life insurance policies... Their conditions and types
Some of Fortune 500 companies also saved through Captive Insurance companies incorporated in Bermuda.
Please make a video on how middle class save taxes🙏🏻
Thanks for educating us through your Videos ! :)
But the rule is not applicable retrospectively, right? People who invested in ulip before 1 April 2021 will still be able to benefit.
its excellent.actually till now we dont know the logic behind the sum assured and premium paid.after seeing this video its completely clear
Sir... Please make detailed ITR filing video's with explanations of section's .
Thanks sir for one more intresting video...me gf ke reply ka jitana wait nahi karata utana aapake video ka karta hu...
Such a great teacher 😍 Give us pracatical knowledge for our future😍
I got sir utb channel just 2 days ago and now when i am free from my classes i m watching sirs every videos
Sahil sir...
Is there any possibility that Banks can deduct tax in the name of income tax in salary and savings account without concern of Customer.
Thanks a lot Sir, Very Insightful, having and showing an accurate and deep understanding; perceptive.
Is the tax savings even more than the GST paid on the premiums paid?
Thank You Sir Your's Lectures are Precious One Because It's all about the Experience. It takes Much More Time or Unknown For a Long.
In my Case as Accountant.
Didn't know Hidden ( Tax Evasion) things.
As well as in other case If I Eager know those things available Only with a Prescribed Limit Didn't Above My Qualification
For This Am So Thankful to Yours Lecture as gave a Years of Experience within a Minute .
Thank You So Much Sir.😂
A question on tax saving on ULIP:
If we invest via ULIP, 10% of the complete investment amount goes towards premium.
Whereas, if we invest in equity(mutual funds or direct), we will be taxed 10% LTCG only on the profit(not on the whole investment amount)
Then how is ULIP better?
Maybe I am missing something here?
Sir plz make a video on inheritance money or asset like land stock jwellery etc
Ek 5 se 8 min ke video ancestors property tax pe banao tax kaise bachaye etc✨
Sir, what is the tax% for ULIP linked insurance purchased in 2013 and 2014?
Great explanation, sir. Thank you.
Hats off ...ty for enlighting about insurance
Excellent yaar... 👍 , But h'khor people will still do it buy doing it in the name of different family members... But still, good step by govt and extraordinarily explained by you .. 🙏🏽
👍👍 sahil can u make video on ltcg n stcg shares trading how to save max on that
ME IN CLASS 11th AND I UNDERSTOOD THIS CASE STUDY .. . I LIKE YOUR VIDEOS..
Never mix insurance with investments and you will be fine. We don't buy an insurance policy to save taxes, we buy it to secure our family in case something bad happens. For that you need at least 10 times your annual income. In order to achieve this from an ULIP, the premium would be very very high in fixed installments.
Why would I do that? Take a term plan PURELY for insurance purpose and invest the rest in equity mutual funds or direct equity, which anyway the ULIP guys do.
Atleast someone understands. These ULIPs only benefit the agents. No one else.
Correct
@@wolverinehulk9387 why don't you write to the government regarding it.
Ulip have hidden or unreasonable charges. Otherwise good. Great video
But what about the Taxability of those ulips which have been issued before 1/2/2021?
Sir your content is much more valuable
I am Engineering graduate. Sticked to your content. It's awesome and interesting
Sir I request to you please make a video free sample of goods HOW to treated excel working sheet and showing a GST PORTAL....
Sir kaise check kare insurance policy hai ya nahi our kitani after deth amount milane wali hai
does the premium that we pay annually , say 2 lakh annualy is that also a deduction in taxable income? and if yes then is it included in 80c or is it extra slab
It's part of 1.5 lac limit under 80C
One of the best ca teahers in india
Sir, how to know which product has which gst rate?
First condition that premium should exceeds 10% (15%) of sum assured is stated in I T Law. Second contion that agrregate premium less than 2.5 lakh in a year is not shown . I am confused.
Sir, kaha gayab ho aap video kyu nhi aa rhi
Plzz. Video daalo 🙏
Sir
Please make video on Trading platforms
Are online platforms authentic and safe?
Is binary option companies legit in india
Thank you sir for the detailed information
Han Ji good evening has separate fan base 😍
Thank you sahil bhai for the simple and crisp analysis but one point which was missed by you is the the premium amount will attract GST every year.
I have a practical based query of gst irrelevant from the above video but hope that u would help
Last month vehicle of mine was stop by authority and they raise a demand of tax and 100%penalty of tax amount.
I deposited the said demand on the very same day . Cash legder history is reflecting amount deposited and set off against the demand order I'd.
Question is whether should
The invoices be shown in gstr 1 of which demand is paid .
And if yes then gstr 3b will generate tax liability on the base of gstr 1
Cash ledger balance is nil as it is setoff against the demand
Or will I have to pay the tax again on the same goods .
Simply super and informative
Max premium ke condition ke pichhe ka logic aaj samajh aaya
very nice knowledge sir
Mind blowing....very great...sir
Bro kuch logo k paas business h pr unhe pta nhi itr kese file krte h itc kese milta h,
Aap ispe ek detailed video bnao on request thanks.
ELSS aren’t the options better than ULIPs?
This 2.5 lakh premium limit is only for ULIP or it includes all insurance policies?
Very helpful sir, you are great.
What will be tax implications if one pays premium for ULIP of Rs 2.5L plus Rs 50K for Term Insurance ?
I am wondering what is someone starts a new ULIP every year. So, let's say, I take a ULIP in 2021-22 with 5 years of premium payment (let's assume of INR 1 Lakh). Again, in 2022-23, I take another ULIP with 5 years of premium payment. However, in 2022-23, I will be paying INR 2L for 2 ULIPs. Since their maturity falls on separate financial years, will they become tax exempt?
Mene lic or tata aia ki 2.5 lakh se jyada ka premium pay kr rha hu or mri income bhi jyada nhi h crores m to kya mujhe maturity pr tax dena hoga kya
If the premiums are under 10% and all policies purchased before 2021 but total premium per year is >2.5L then will I get the sec 10(10D) benefit?
Does it also include the money along with the money paid in premium for general term life insurance?
Sirji....if I am paying premium more than 2.5 lakhs...but the policy will mature after 15 to 20 years....how will the government track...20 years back...to find out as to how much premium did I really pay and whether the sum was greater than...2.5 lakhs...does the government really track data before 15 to 20 years.... please clear my doubt 🙏🙏
Sir Please make a video on F&O trading taxability
Why did you delete the video of 0 tax on Rs 40Lacs stock market income?
the new provision about ulip is applicable for policies taken on or after 1/2/21
Sir keep making such logical vedios
Sir you are the best🥰🥰
Boht mast smghate h sir ap
Bahut Shandar 🔥
Very well explained.
Nicely explained Sir👌🏽👌🏽
Is this appplicable only for ULIPs or for normal endowment policies as well?
It's only for ulip but condition of 10/15 % is also there
Your video is like ca class i love itttt
sir , aapne 1-4-21 se pehle jisne plan buy kia h , unka kya
Sir in this the 2.5 Lac is af all the investments in an year or only Insurance Policy, and also will it be calculated as total received to a nominee or total invested by the person investing, as It can be the case that two parents of anyone are dead in any mishappening and both have investments less than 2.5Lac but total is more than 2.5 Lac
Hello, plzz tell how should i prepare for tata imagination challenge?? Our placement cell has asked us to register for it, is the salary 25 Lakhs?
What about policy which is taken before 1/4/2021