Both the Investments are covered under Section 80(C) of Income Tax Act. Hence, in both the cases, Investments upo 1lac are tax free. But what about the maturity amount? ULIP maturity amount is covered under Section 10(10)(D) and hence tax free. Is it same in case of ELSS or any other Mutual Fund?
RE:Tax implication
by Jinesh Sawlani on Feb 28, 2008 11:14 AM Permalink
i guess ULIP on maturity is tax free as there is inusrance part in it and not sure abt ELSS or MF i guess on maturity they are not tax free.
