Category: Uncategorized

1. At Maturity of ULIP: Upon the completion of the tenure of your Unit Linked Insurance Plan, when they mature, the total amount received by you or your nominee will be completely exempted from tax under section 10(10D), if the following conditions are satisfied.
   • For ULIPs purchased after 1st April 2012 : When the premium is less than 10% of the sum assured, amount on maturity will be exempted under section 10(10D). If the premium is more than 10% of the sum assured then the entire amount is taxable, except in case of death.
   • For ULIPs purchased before 1st April 2012 : When the premium is less than 20% of the sum assured, then the maturity will be exempted under section 10(10D). If the premium is more than 20% of the sum assured, then the amount received on maturity is taxable, except in case of death.
2. If ULIP is surrendered
   • Before lock-in-period : If the policy is surrendered before the lock-in-period of 5 years, then the entire surrender value will be treated as income for the current year and will be added in Gross Total Income and thus will be taxed as per applicable tax slab rate of the individual.
   • After lock-in-period : If the policy is surrendered after the lock-in-period of 5 years, then the surrender value will be exempt from taxation and assured can avail the tax benefit.

Mutual Fund	Exchange	Quotation as on 31/01/2018 (₹)
Aditya Birla Sun Life Gold ETF – Growth	NSE	2799
Aditya Birla Sun Life Nifty ETF – Growth	NSE	109.75
Axis Equity Advantage Fund- Series 1 Regular Plan- Growth	BSE	9.77
Axis Gold ETF Fund	NSE	2639.95
Axis Gold Exchange Traded Fund	BSE	2684.99
Axis NIFTY ETF	NSE	1103.90
BHARAT 22 ETF – ICICI Prudential AMC	BSE	38.90
Birla Sun Life Gold ETF	BSE	2825
Canara Robeco Mutual Fund – Canara Robeco – Gold ETF	NSE	2765
DSP BLACKROCK A.C.E. Fund Series 1 – Regular Growth	BSE	9.40
DSP BLACKROCK A.C.E. Fund Series 1 – Regular-Dividend Payout	BSE	9.30
Edelweiss ETF – Nifty 50	NSE	12350
Edelweiss Mutual Fund – Edelweiss ETF – Nifty Quality 30	NSE	244.90
HDFC Equity Opportunities Fund-II- 1100D June 2017(1) Series 2-Regular Option-Growth Option	BSE	9.56
HDFC Gold Exchange Traded Fund	NSE	2780.05
HDFC HOF-I-1140D November 2017(1) – Regular Option – Dividend Payout Option	BSE	9.30
HDFC HOF-I-1140D November 2017(1)- Regular Option – Growth Option	BSE	9.82
HDFC Mutal Fund (Hl 190M36RG)	BSE	10.90
HDFC Nifty ETF	NSE	1131.98
ICICI Prudential Gold iWIN ETF	BSE	279
ICICI Prudential Midcap Select iWIN ETF	NSE	76.25
ICICI Prudential Mutual Fund – BHARAT 22 ETF	NSE	38.85
ICICI Prudential Nifty 100 iWIN ETF	NSE	122
ICICI Prudential Nifty iWIN ETF	NSE	114
ICICI Prudential Nifty Low Vol 30 iWIN	NSE	84.20
ICICI Prudential NV20 iWIN ETF	NSE	51.20
ICICI Prudential Sensex iWIN ETF	BSE	375.28
ICICI Prudential Value Fund – Series 19 – Cumulative Option	BSE	10
IDBI Gold ETF	BSE	2883
IDBI Gold Exchange Traded Fund	NSE	2845
1DFC Nifty ETF	NSE	112
Invesco India Gold Exchange Traded Fund	NSE	2729.25
Invesco India Nifty Exchange Traded Fund	NSE	1137
Kotak Banking ETF – Dividend Payout Option	NSE	280.81
Kotak Mahindra Mutual Fund	NSE	379
Kotak Mutual Fund – Gold Exchange Traded Fund	NSE	266.20
Kotak Nifty ETF	BSE	112
Kotak NV 20 ETF – DPO	NSE	52.10
Kotak Sensex ETF	BSE	365.60
LIC MF ETF – Nifty 100	NSE	117
LIC MF Exchange Traded Fund – Nifty 50	NSE	114.25
LIC MF Exchange Traded Fund- Sensex	BSE	376.40
LIC MF G-sec LT ETF – GO	NSE	16.87
Motilal Oswal MOSt Shares M100 ETF GO	NSE	23.40
Motilal Oswal MOSt Shares M50 ETF	BSE	106.95
Motilal Oswal MOSt Shares Midcap 100 ETF- Growth option	BSE	23.05
Motilal Oswal MOSt Shares NASDAQ-100 ETF	BSE	524
Quantum Gold Fund -Exchange Traded Fund (ETF)	NSE	1353.90
Quantum Nifty ETF	NSE	1192.70
Reliance ETF Bank BeES	NSE	2781.50
Reliance ETF Consumption	NSE	52.61
Reliance ETF Dividend Opportunities	NSE	30.17
Reliance ETF Gold BeES	NSE	2720
Reliance ETF Hang Seng BeES	NSE	3325
Reliance ETF Infra BeES	NSE	372.21
Reliance ETF Junior BeES	NSE	312.91
Reliance ETF Liquid BeES	NSE	1000.01
Reliance ETF Long Term Gilt	NSE	16.81
Reliance ETF Nifty 100	NSE	116.82
Reliance ETF Nifty BeES	BSE	1138.70
Reliance ETF PSU Bank BeES	NSE	414.34
Reliance ETF Shariah BeES	NSE	270
Reliance MF CPSE ETF (RGESS)/ETF	NSE	31.25
SBI- ETFBSE 100	BSE	116.10
SBI Sensex ETF	BSE	383.85
SBI-ETF Gold	NSE	2757
SB1-ETF Nifty 50	NSE	115
SBI-ETF Nifty Bank	NSE	275.50
SBI-ETF Nifty Next 50	NSE	311
UTI Gold Exchange Traded Fund	NSE	2669
UTI Nifty ETF	BSE	1130.15
UTI Nifty Next 50 ETF	BSE	309.05
UTI Nifty Next 50 Exchange Traded Fund – UTI Nifty N	NSE	309.25
UTI-Sensex ETF	BSE	375
UTI-Nifty Exchange Traded Fund	NSE	1143
UTI-Sensex Exchange Traded Fund	NSE	373.90

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…     The highest price quoted for the units of mutual funds on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) as on January 31, 2018 is provided here.

Agriculture Income

Agricultural income is not taxable under Section 10 (1) of the Income Tax Act as it is not considered as a part of an individual’s total income. However, the state government can levy tax on agricultural income if the amount exceeds Rs.5,000 per year. However, this income is considered for rate purposes while calculating the income tax liability of the individual.

For all other normal purposes, the tax calculation will involve the following steps:

1. Including the Agricultural Income – Say ‘X’ is the base income of the individual and ‘Y’ is the agricultural income, tax first needs to be computed on the amount of X+Y. Let’s call this “tax as T(X+Y)”
2. Adding the basic tax slab benefit – Subject to the amendments the basic tax slab might change, but for clarity’s sake let’s consider that as ‘S’. That needs to be added to the agricultural income and another tax is be calculated on the amount. Let’s call this “tax as T(S+Y)”
3. Thus Final Tax = T(X+Y) – T(S+Y) and add/(Less) Surcharge, Health & Education cess, (Rebate),etc., as may be applicable.

*One should always remember to aggregate the agricultural income while calculating tax since that can allow one to avoid unnecessary extra taxes or interest on taxes.