New Delhi [India], November 17 (ANI/ATK): Life is a long journey that includes a variety of financial goals and entails many unforeseen circumstances. You will always strive to ensure a brighter and safer future for your loved ones, and having a sound financial plan in place can go a long way towards making it a reality.

New Delhi [India], October 1 (ANI): Unified Logistics Interface Platform (ULIP), launched by Prime Minister Narendra Modi, as part of the 'National Logistics Policy (NLP)' on September 17 has received a strong response from the industry with 13 firms joining the platform in less than two weeks of the launch, the Ministry of Commerce & Industry said on Saturday.

Mumbai (Maharashtra) [India], August 26 (ANI/BusinessWire India): The Kotak e-Invest ULIP plan, that offers 100 per cent premium allocation in chosen funds, has become one of the most popular offerings in its category today. Taking an investment decision is always challenging, and it takes a lot of trust and courage to make such a decision. Hence, ULIPs have become an attractive investment option, however, ULIP plans are dime a dozen and one should always choose a plan that offers 100 per cent premium allocation.

New Delhi [India], August 23 (ANI/India PR Distribution): Savings and investment are two different concepts that people usually misjudge. You need in-depth knowledge of both plans to see the difference between savings and investment. Wondering what is the difference between saving and investing?

New Delhi [India], July 15 (ANI): The Competition Commission of India (CCI) on Friday said it has approved the acquisition of Ageas Federal Life Insurance Company Limited by its group company Ageas Insurance International NV.

New Delhi [India], July 6 (ANI/NewsVoir): As fears of spiraling inflation and rising interest rates gripped investors across the globe, it was evident that Indian equity indices would see a steep correction following weakness in global indices. Stock market downturns such as these occur time and again. And they take place for various reasons. Sometimes the changes are related to excessive market valuations after an extended rally. In other cases, they may be due to external events like COVID-19 in 2020.

New Delhi Jan 24 PTI Proceeds of high-premium Unit Linked Insurance Plans ULIPs has been made taxable to create a level-playing field with mutual funds official sources said on Monday The Central Board of Direct Taxes CBDT that frames policy for the income tax department had on January 18 notified the rules stating the method of calculation of capital gains with regard to ULIPs with annual premium of more than Rs 25 lakh and subsequently issued a circular the next day charting out various aspects of their taxation Income-tax department sources told PTI that the rules and guidelines were notified by the CBDT to give effect to the announcement made with regard to ULIPs in the last Union Budget These do not bring any new taxation provision but only clarify the method of calculation of capital gains when it comes to redeeming ULIPs in specified cases they said The Finance Act of 2021 carried out amendment in section 1010D of the Income-tax Act following which the sum received under ULIPs issued on or after Feb 1 2021 shall not be exempt if the annual premium payable for any year exceeds Rs 250 lakh This provision was enacted to create level playing field between mutual fund investment and ULIP investment a senior I-T department official said Clarifying the various aspects and concerns over the taxation of ULIP redemptions in certain cases the official said the move was made after it was found that ULIPs were being preferred by investors for investment purposes as compared to insurance In case of mutual funds its redemption is charged to capital gains tax However in case of ULIP the redemption was exempt even though the insurance part of the premium was very less and investment part of the premium was high the official said Another official said that this amendment in the Finance Act of 2021 ensured that both mutual fund units and ULIPs operate on the same footing However a general exemption was provided to those cases where annual premium is not more than 25 lakh in a year This 25 lakh benefit was provided for ULIPs even if it was not there for mutual fund so that premium paid for life insurance part does not get hit the official said The second official quoted above added that the Finance Act of 2021 also inserted sub-section 1B in section 45 of the Income-tax Act to make income from ULIPs taxable as capital gains just like redemption from mutual fund is taxable as capital gains The amendment in the Finance Act of 2021 also made it clear that if there is more than one policy the Rs 25 lakh premium limit for a year would be applied by aggregating the premium of such policies Hence there was a need for providing clarity by way of a circular informing the investors how taxable income is to be calculated when there is more than one ULIP the second officer quoted above said PTI NES MR MR