Hello Sir, ULIP has been taken in year 2019 where as premium is 10 lakh per year paid for 5 years means total premium paid 50 Lakh and sum assured is 10 times of premium which is 1Crore now fund value is 1.20 crore. I want Tax TDS LTCG clarity on this I'm in 30% tax bracket.
Thank you for sharing your insights and recommendations. Its great to explore various investment options, especially well-known companies like Cannafarm Ltd that are gaining popularity. Adding different ventures to our portfolio can help reduce risks in
LIC of india diducted Tds even if my policy issued on September 2013 having premium paid below 5 lakhs ie only 160000+ tds which was discontinued after paying 3 yearly payment. Please clarify Sir.
Sir,Single premium endowment plan lic 917 ke maturity taxation ke bare bataiye aur ye plan section 56 me double deduction allow hai ki nhi vo bhi bataiye
Hi Sir, How about the taxation for NRIs related to Maturity Benfits/Death Benefits and to which account Maturity Benefits are transferred NRE account or NRO account.
Sir , will there be any tax implications during disbursal of term life insurance payout to family after demise of insured person ie TCS / later income tax etc. If yes at what rate of tax applicable
Sir, ICICI pru sold many policies under Guranteed Savings Plan non participating, endowment with 7 yrs premium pay of 30K, SI 2.1L, policy term 15yrs. Means maturity pay is taxable? Is that correct. They sold policies as Maturity Amt is Taxfree. Can you please elaborate.
This certainly sounds good too, but I think its still worth considering more reliable options like traditional businesses such as cannafarm ltd, for example.
Hi Sir, Do we have to pay tax on Maturity? If Premium per year is 1lakh and sum assured is 20lakh and insurance taken in 2021. If need to pay tax then on what value? Maturity = Sum Assured + Interest + Bonus
what about LIC pension policy , if the Pension policy is purchased in 2024 for example for 1 Cr and the deferment period is 10 or 12 years and the pension received after 10 or 12 years @ of 13 to 14% how much will it be taxed and how will it be taxed once the person starts receiving pension yearly ?
This is very informative video..Thank you. I have taken a policy where I pay annually 2L for 12 years and from 16th year I get 2L for 30 years and 25L maturity amount after 30 years. Are the monthly amounts received and annuity amount received are taxed? Or exempted?If taxed..under which head
Sir yadi kisi policy ko LIC khud hee close kar day to kya hoga? Maine fortune plus main 2008 main invest kiya. 2023 main, 15 saal baad, proceeds mila. Kya vo taxable hai?
Koi customer 30% tax slab mei ata hai...Ab unka ek ulip maturity hua hai..Usme TDS deduction hui hai...Ab mujhe janna hai ki 30% slab mei ata hai to unko or koi tax dena parega yaa nehi dena parega.
A ULIP policy is bought in 2008 and is still active with a the yearly premium is LESS THAN 20% of the maturity amount. I would like to surrender the policy today. Please advise whether the total surrender value if tax free as per section 10(10D) or not. Thanks
If I'm taking 5 lakh p.a traditional policy for 5yrs in fy 2023-24 and taking other 5 lakh p.a (new policy) in 2024-25 then this 2024-25 policy will be taxed or not ?
Sir can u help me with Gst effect. My question is if a maturity is taxable then premium inclusive of gst should be considered for deducting against maturity or exclusive of gst?
Hello Dear , Thanks for sharing educational Videos. I bought Max life Life Gain 20 policy .Its was Participating policy in 2013 and made investment of 1.5 Lakh in 6 years . In 2023 , I surrender the policy with loss of 25K . Can i book loss of 25K ? In which head of Income Tax I can file losses . Thanks .
Sir jeevan utsav me 5 years premium pay krenge and then 11th year se 50000 per year refund ayega..to wo taxable hoga ke nahi ?ya income me add hoga ya nahi ?please guide..
Sir, aage se premium ke saath per year ka bhi explain kar diya kariye, confusion ho raha hai ki aap jis premium ki baat kar rahe ho woh per annum smjhu ya total premium until the last installment is paid.
Sir, if I take new policy in 2023 of 5 lakh, 15 year premium paying Than in 2024 New policy of 5 lakh 20 year premium paying Further in 2025 take New policy of 5 lakh 25 year premium paying Than all are tax free ?
Very well explained.. lots of clarity.. eye opener who think LIC maturity value is unconditionally non taxable. Regards.
Some discussion be made regarding tax effect on claims received by policy holders in health insurance.
Quite Informative. Thanks for walking us through the taxability clutter...
Hello Sir, ULIP has been taken in year 2019 where as premium is 10 lakh per year paid for 5 years means total premium paid 50 Lakh and sum assured is 10 times of premium which is 1Crore now fund value is 1.20 crore. I want Tax TDS LTCG clarity on this I'm in 30% tax bracket.
Thank you for sharing your insights and recommendations. Its great to explore various investment options, especially well-known companies like Cannafarm Ltd that are gaining popularity. Adding different ventures to our portfolio can help reduce risks in
LIC of india diducted Tds even if my policy issued on September 2013 having premium paid below 5 lakhs ie only 160000+ tds which was discontinued after paying 3 yearly payment. Please clarify Sir.
Sir, 2018 policy and premium is exactly 10% of sum assured , is this tax free
Superb sir..very well explained.👌 👌👌
Sir,Single premium endowment plan lic 917 ke maturity taxation ke bare bataiye aur ye plan section 56 me double deduction allow hai ki nhi vo bhi bataiye
Hi Sir,
How about the taxation for NRIs related to Maturity Benfits/Death Benefits and to which account Maturity Benefits are transferred NRE account or NRO account.
Sir section 10(10) mein sum assured ke 10℅ ka premium with gst pakdenge. Ya without gst premium pakdenge
Sir , will there be any tax implications during disbursal of term life insurance payout to family after demise of insured person ie TCS / later income tax etc. If yes at what rate of tax applicable
Sir, ICICI pru sold many policies under Guranteed Savings Plan non participating, endowment with 7 yrs premium pay of 30K, SI 2.1L, policy term 15yrs. Means maturity pay is taxable? Is that correct. They sold policies as Maturity Amt is Taxfree. Can you please elaborate.
This certainly sounds good too, but I think its still worth considering more reliable options like traditional businesses such as cannafarm ltd, for example.
Sir, LIC surrendered karne se amount receive hua hai toh kya vo bhi section 10 (10D) mai exempt hota hai?
Hi Sir,
Do we have to pay tax on Maturity?
If Premium per year is 1lakh and sum assured is 20lakh and insurance taken in 2021.
If need to pay tax then on what value?
Maturity = Sum Assured + Interest + Bonus
what about LIC pension policy , if the Pension policy is purchased in 2024 for example for 1 Cr and the deferment period is 10 or 12 years and the pension received after 10 or 12 years @ of 13 to 14% how much will it be taxed and how will it be taxed once the person starts receiving pension yearly ?
If I surrender hdfc pension policy taken in 2008 before maturity...then the fund value I am getting is taxable or not?
This is very informative video..Thank you.
I have taken a policy where I pay annually 2L for 12 years and from 16th year I get 2L for 30 years and 25L maturity amount after 30 years. Are the monthly amounts received and annuity amount received are taxed? Or exempted?If taxed..under which head
it depends on ur sum assured
Do i have to pay tax on capital gain if I surrender my ULIP after 5 year lockin completion?
Great... I was looking for this since long 🙏
What is taxation under capital gain in free look period
Sir yadi kisi policy ko LIC khud hee close kar day to kya hoga? Maine fortune plus main 2008 main invest kiya. 2023 main, 15 saal baad, proceeds mila. Kya vo taxable hai?
Should we include gst?
Koi customer 30% tax slab mei ata hai...Ab unka ek ulip maturity hua hai..Usme TDS deduction hui hai...Ab mujhe janna hai ki 30% slab mei ata hai to unko or koi tax dena parega yaa nehi dena parega.
Lic is not workable for future security
Sir 2023 se pehle me Jo sum assured ka criteria ha wo pure premium ka hai ya per year ka
A ULIP policy is bought in 2008 and is still active with a the yearly premium is LESS THAN 20% of the maturity amount.
I would like to surrender the policy today.
Please advise whether the total surrender value if tax free as per section 10(10D) or not.
Thanks
@@ddutta541 capital ke uper jitna gain hua hai uspe 5% ka tax lagega under 10(10)d
Jeevan suraksha policy vested bonus is taxable?
Very well explained , Thanks
If I'm taking 5 lakh p.a traditional policy for 5yrs in fy 2023-24 and taking other 5 lakh p.a (new policy) in 2024-25 then this 2024-25 policy will be taxed or not ?
Sir can u help me with Gst effect. My question is if a maturity is taxable then premium inclusive of gst should be considered for deducting against maturity or exclusive of gst?
@@Pujaagarwal-y5q exclusive...for such calculation, prem w/o gst is considered
Pre maturity policy main TDS dena padega
Pls guide on PLI maturity
सर् जी
सिंगल प्रीमियम पर टैक्स का क्या प्रोवीजन है बताइयेगा
As you said long term capital gains is 20% , Sir is it correct
to sir tax lgti h... to kitna %taxable h
What about taxation of annuity policy
Thanks Bro
But what about on Ulip where sum assured is 7* of annual premium
What is the treatment of Single Premium Policies
Hello Dear , Thanks for sharing educational Videos.
I bought Max life Life Gain 20 policy .Its was Participating policy in 2013 and made investment of 1.5 Lakh in 6 years . In 2023 , I surrender the policy with loss of 25K . Can i book loss of 25K ? In which head of Income Tax I can file losses . Thanks .
Single premium policy taken after 2013? What is the tax regulation?
Well explained sir..thank you!
If i take the saving life insurance plan
And i pay a premium of 5L plus 22k GST. As after GST the premium is more than 5L then will i be taxed?
No because principal ammount considered for tax
What is the scenario in new tax regime?
One time premium ka case bataiye
Explained very nicely
What about pension policy?
Sir, you are talking about per policy. If I have more than one policy then criteria told by you is for gross or single policy considered
I think yearly premium.
You have to see each policy and it’s annual premium and determine if it’s taxable or not.
Sir jeevan utsav me 5 years premium pay krenge and then 11th year se 50000 per year refund ayega..to wo taxable hoga ke nahi ?ya income me add hoga ya nahi ?please guide..
Taxable. But if u want it taxfree,go for term rider in the same policy so that sum assured amt will be doubled n prem will remain under 10% of SA
Sir, aage se premium ke saath per year ka bhi explain kar diya kariye, confusion ho raha hai ki aap jis premium ki baat kar rahe ho woh per annum smjhu ya total premium until the last installment is paid.
Sir apko bajaj allianz ki details chaiye ho to plz rply
Means ab LIC POLICY KI BHI PRACTICE KARNA PADEGA AB TAX PROFESSONAL KO
Sir 20% premium means yearly 20% premium of sum assured .
Yes
Best video
During watching this video, I remember the lectures of class 10 history sir. Somany tax rules in life insurance. 😅
Sir, if I take new policy in 2023 of 5 lakh, 15 year premium paying
Than in 2024 New policy of 5 lakh 20 year premium paying
Further in 2025 take New policy of 5 lakh 25 year premium paying
Than all are tax free ?
No the limit is 5 lakhs per PAN...2024 & 2025 policies when mature will attract tax at slab rate
👍👍👍👏👏
I am shocked to hear that Ulip actually gives gains to pay tax 😮 Ulip me to loss setoff ka option hona chahiye actually 😂
As per your clarification, it appears that middle class families will ruin in India.
Middle class is already ruined by taking endowment plans.
Does anyone know if Tax Exempt in India would also means tax exempt in foreign country E.g. for NRIs in US holding LIC policies in India ?
ofcourse not US will tax you to death :-)
It's taxable in US
maturity m taxable h to kitni percent h... taxable h