Paragraph match score 85.5%
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ULIP Tax Benefits
Under Section 80C, the premiums paid towards your ULIP are eligible for a tax deduction of up to ₹1.5 lakh per year, helping reduce your taxable income.
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Features of ULIP
Tax Benefits: Investments made in ULIPs are eligible for tax deductions under Section 123 of the Income Tax Act (up to ₹1.5 lakh annually). Additionally, the maturity proceeds may be tax-free under Schedule II (Table S.No. 2) (previously known as Section 10(10D) ), subject to certain conditions.