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Budget 2024 could unify equity, debt long term capital gain tax, holding period

The interim budget of the government is likely to be announced on February 1, 2024. Like with every budget, there are certain expectations of a common man to ease the taxes on the capital gains (LTCG and STCG), simplify the capital gains structure. Will Budget 2024 fulfill this wishlist? Read on to know about it. ....

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IRDAI brings group Ulips, combi schemes in use-and-file ambit to speed up policy launches

Life insurers can now launch group unit-linked insurance policies and combi products without prior approval from the insurance regulator ....

Development Authority Of India , Fund Identification Number , Insurance Regulatory , Development Authority , Segregated Fund Identification Number , Life Insurance , Health Insurance , Unit Linked Insurance Policies ,

Life insurance companies stare at life beyond tax tweaks

Insurance Regulatory and Development Authority of India’s (IRDAI) monthly data shows that the annualized premium equivalent (APE) has been muted for the first two months of FY24. ....

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Tax exemption removal may reduce life insurers' wallet share in HNI segment

Notably, income from annuities and single-premium policies generally gets taxed. Income on ULIPs above the annual premium of ₹2.5 lakh has also been taxed for the last two years. ....

Amit Ganatra , Aarti Raote , Tax Regulatory Services , Kotak Institutional Equities , Regulatory Services , Deloitte India , Finance Act , Unit Linked Insurance Policies , Life Insurance , Budget 2023 , Exemption Hni ,

Tax benefits in ULIP are now at par with equity investments

Updated Feb 02, 2021 | 07:31 IST
Presently proceeds received on life insurance policies including ULIPs enjoy tax exemption under section 10(10D) if the premium for the policy does not exceed 10% of the sum assured.
Representational image
The finance minister has proposed amendments in the Income Tax Act in an attempt to make the Unit Linked Insurance Policies (ULIP) issued by life insurance companies on par with listed equity investments.
Present Provisions
Presently proceeds received on life insurance policies including ULIPs enjoy tax exemption under section 10(10D) if the premium for the policy during the premium paying term does not exceed 10% of the sum assured. So as long as the premium paid does not exceed 10% of the sum assured the money received in respect of such policies is fully tax-free in the hands of the policyholder. However, death claims received are fully tax-free irrespective of the quantum of premium paid. ....

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