Securities Transaction Tax scope expanded to include ULIP unit transfers to insurers, making such transactions taxable retrospectively. The amendments expand securities transaction tax to include sale, surrender or redemption of a unit of an equity oriented fund to the insurance company on maturity or partial withdrawal of a unit linked insurance policy issued on or after the operative date, and insert a definition of 'unit linked insurance policy'; these changes have retrospective effect to the stated commencement date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Securities Transaction Tax scope expanded to include ULIP unit transfers to insurers, making such transactions taxable retrospectively.
The amendments expand securities transaction tax to include sale, surrender or redemption of a unit of an equity oriented fund to the insurance company on maturity or partial withdrawal of a unit linked insurance policy issued on or after the operative date, and insert a definition of "unit linked insurance policy"; these changes have retrospective effect to the stated commencement date.
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