Loss in Ulip and ELSS

POSTED BY Sagar ON July 4, 2011 5:33 pm COMMENTS (2)

Friends,

I have loss in ULIP (14000) and ELSS (1000), can i use this losses to reduce tax?

If yes, what is the procedure?

2 replies on this article “Loss in Ulip and ELSS”

  1. Dominic Prakash says:

    No You cannot claim these losses in tax filing.

  2. Ramesh says:

    over what period of time?
    if over 1 year, then you cannot decrease tax.

    ELSS by def, require 3 years.
    Ulips cannot get any money before 3 years (previous norms), and 5 years (newer norms).
    So the answer is No, anyways.

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