Taxation of Bonus Units of UTI-ULIP 1971 scheme on redemption

POSTED BY Arunachalam ON August 27, 2014 1:02 pm NO COMMENTS

Sir,

I have invested in the UTI-ULIP-1971 Scheme a debt oriented scheme with an annual premium of Rs.7500/- for 10 years. The Scheme is allotting BONUS Units every year and do not give any dividends. The fund invests in 60% of the money invested in debt instruments and the remaining 40 % in Equity.

I want to know how the proceeds on redemption will be taxed, particularly with respect to the periodically allotted BONUS Units redeemed. Kindly arrange to give your reply in your forum or to my E-mail at your earliest. I have not yet surrendered the Units for redemption pending clarification on this subject. Even the website of UTI MF is silent on this topic. Kindly clarify.

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