« General » Open DEMAT Account in 24 hrs  Won case against income tax department but still waiting for benefit? No more delay after an update in ITR portal  Income Tax Department regrets issuing erroneous notices to taxpayers: Know the details  Income Tax Return: Miss THIS ITR filing deadline and you will be fined Rs 10000  Tax contribution of petroleum sector set to drop rapidly in FY 2024-25  Missed reporting foreign assets in ITR? File revised return to avoid Rs 10 lakh penalty  Tax regime shift: Is filing ITR under old regime still valid after default new regime?  Income Tax Department Targets Bogus Refund Claims, Issues Notices To Taxpayers  IT firms bullish on higher spending due to tax cuts  How to calculate capital gains tax on sale of land?  Don't fall for fake notices! How to verify your income tax communication  I decided to shift to the new tax regime. Will I lose benefit on interest income of my PPF account? «  RBI ISSUES NEW VALUATION NORMS FOR INSURERS TOO... INVESTORS WILL STILL INVEST IN ULIPS: LIC... » LIC HOPES ULIPS WILL CONTINUE TO BE TAX-EXEMPTED IN DTC REGIME June, 25th 2010 The head of the countrys largest insurer Life Insurance Corporation of India (LIC) is optimistic that unit-linked plans (Ulips) will continue to be tax-exempt despite the revised proposals of the Direct Tax Code (DTC) calling for taxation of the product. Currently Ulips, which account for nearly 80 percent of the new premium collections, and other insurance schemes like endowment plans, money-back and wholelife policies are treated on a EEE (exempt, exempt, exempt) format implying that the subscriber to these products does not pay taxes either at the time of paying the premium, receiving interest or at the time of withdrawing. Ulips are considered as hybrid products incorporating investment and insurance cover as traits.