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Capital gains
Direct Taxation
What is event ,year of transfer,year of chargeability, Consideration,indexation period for sec 45(1B) related to unit linked insurance receipts(ulip)
Answers (3)
Yoga Vishnu
It is chargeable in the PY in which such amount was received. Proceeds from the policy is full value of consideration. Transaction - Received any amount under ULIP issued on or after 01.02.2021 to which 10(10D) is not applicable.
If consideration exceeds 250000 then only 45(1b) is applicable and then it is necessary to compute capital gains
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