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of <h1>Budget 2025-26: New Tax Rules for ULIPs with Premiums Over Rs. 2.5 Lakh, Effective April 2026</h1> The Union Budget 2025-26 introduces clarity on income from the redemption of Unit Linked Insurance Policies (ULIPs). Amendments to clause (10D) of section 10 restrict income-tax exemptions for ULIPs issued on or after February 1, 2021, if premiums exceed Rs. 2,50,000. Such ULIPs are treated as capital assets, with profits taxed as capital gains. The amendments also redefine these ULIPs as equity-oriented funds for tax purposes. These changes, effective from April 1, 2026, aim to rationalize tax treatment and apply to assessment year 2026-27 onwards.
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