Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Capital gains from unit linked insurance policies are computed under a special formula for recurring policy receipts. Capital gains on amounts received under a specified unit linked insurance policy, including bonus, are computed under a special formula for section 45(1B). The first receipt is calculated as the amount received minus premium paid up to that date. Later receipts are calculated by excluding amounts and premium already considered in earlier years. The computed capital gains are deemed to arise from transfer of a unit of an equity oriented fund under an insurance company scheme.
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.
Capital gains from unit linked insurance policies are computed under a special formula for recurring policy receipts.
Capital gains on amounts received under a specified unit linked insurance policy, including bonus, are computed under a special formula for section 45(1B). The first receipt is calculated as the amount received minus premium paid up to that date. Later receipts are calculated by excluding amounts and premium already considered in earlier years. The computed capital gains are deemed to arise from transfer of a unit of an equity oriented fund under an insurance company scheme.
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