POSTED BY October 3, 2010 2:42 pm ONE COMMENTON
my bro. had invested in ULIP(02 POLICIES).Since they were not giving good returns he booked the profit and closed the policies(cancelled it) after 5yrs.The amount is now in savings account.he doesnt reside here in India.He is a NRI/NRE.Will this amt be taxed? If yes why and what is the percentage of tax?
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