Capital gains tax on ULIP income part of last Budget

Finance Act 2021 inserted a provision in the Income Tax Act to make income from ULIPs taxable as capital gains, just like redemption from mutual funds. It had also delegated power to the Centre to prescribe a method of calculation of capital gains, while it was notified on January 18.

from Tax-Wealth-Economic Times https://ift.tt/3rNg0IB