Ostroff, Fair and Company
*Ostroff, Fair and Company>>>India Taxes

I am investing 4000 Rs. in ULIP OF UTI .it well get matured on 30-5-2006.What will be tax implications?


i have invested annual amount of 4000 for last 15 years .no income has been taken in my income tax return up till now

1.what will be the tax treatment on maturity?
2.will it attract capital gains tax

Since the budget of 2005, there are no taxes on LONG term capital gains. Long term is defined as 1 year or more. So, no capital gains tax if you invested more than a year back.
Only long term capital gains routed through Stock Exchange and subject to Securities Transaction Tax are fully exempt from tax.So this best answer is not correct.
if you compute the long term capital gains by indexation, surely final amount of return will come as a long term capital loss.

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