https://www.taxtmi.com/circulars?id=65359 The Finance Act, 2021 added provisos to clause (10D) of section 10 restricting exemption for sums from ULIPs issued on or after 01.02.2021 where the annual premium for any year, or the aggregate premium across multiple eligible ULIPs (including previously exempt "old ULIPs" where claimed), exceeds a prescribed threshold; death proceeds remain exempt. The Board's guidelines explain operational rules for testing single and multiple ULIPs against the aggregate premium constraint and illustrate application by examples covering pre- and post-amendment policies, surrender and maturity receipts, and taxpayer selection of policies for exemption. en-us Wed, 19 Jan 2022 00:00:00 +0530 Wed, 19 Jan 2022 19:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65359 The Finance Act, 2021 added provisos to clause (10D) of section 10 restricting exemption for sums from ULIPs issued on or after 01.02.2021 where the annual premium for any year, or the aggregate premium across multiple eligible ULIPs (including previously exempt "old ULIPs" where claimed), exceeds a prescribed threshold; death proceeds remain exempt. The Board's guidelines explain operational rules for testing single and multiple ULIPs against the aggregate premium constraint and illustrate application by examples covering pre- and post-amendment policies, surrender and maturity receipts, and taxpayer selection of policies for exemption. Circulars Income Tax Wed, 19 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65359